Sentiment Analysis is a segment born out of the less useful chart analysis of all coins which essentially follows the same pattern. We try to cover the sentiments of people involved with the specific token which includes coin specific investors, miners, skeptics, journalists, analysts and more from within the industry.
Litecoin was launched in the year 2011 as a light version of the Bitcoin. It was launched in order to overcome the shortcomings of Bitcoin. The differences between Bitcoin and Litecoin are that the latter has faster Block Generation Time and uses the script as proof-of-work. In comparison with Bitcoin, it is less congested and as a result, it is cheaper and is favored by the traders.
Analysts are debating whether it has the potential to overtake Bitcoin as it currently is in the top five. Litecoin’s growth of 3855% is way higher than that of Bitcoin’s 539%. However experts do not predict that it will overtake Bitcoin anytime soon. Considering the percentage of growth, experts predicted that it will overtake Bitcoin Cash which is currently at the 4th rank.
The price of Litecoin [LTC] has risen remarkably over the past year. In the last 7 days, Litecoin had peaked at over 10 billion USD of market capital and dipped to $8.5 billion, with a 14% dip in the overall market value. Litecoin, at press time, stands at a price of $162.29 with a market capitalization of $9 billion.
Kristjan Dekleva, head of product development at Blocktrade remarked as:
“I also like the Litepal payment system and when we eventually see the launch of the Litepay debit card, then I can see Litecoin overtaking Bitcoin Cash.”
Mr Tekleva said:
“I don’t believe that Litecoin will overtake bitcoin. Litecoin does its intended job well for certain intents and purposes and has somewhat wide market penetration. Ultimately, it functions ok, but not well enough to break out of mid-market in the long run.”
Andrei Barysevich, Director of Advanced Collection at Record Future on an optimistic note says,
“Bitcoin is not going anywhere, everybody knows about bitcoin, in my view, it is going to remain as a gold standard. However in day to day operations, I think Litecoin is to become more dominant currency, as soon as we start to see established e-commerce websites accepting Litecoin”
In short, Litecoin has got a lot of potential for aggressive growth which the community is looking forward to since many are of the opinion that Litecoin will turn the tables upside down. Most of the respondents had a bearish opinion and feel that the next 48 hours could be potentially bad.
NEO was founded in 2014 and became a real-time open source platform on GitHub in June 2015. It currently ranks at number 7 on the list of top 10 currencies. Because of its position in the list, analysts call it a “stable” digital coin. Since February 6th of this year, NEO has shown a significant drama in the market. The use of Byzantine Fault Tolerance Consensus mechanism enables it to carry out more than 10,000 transactions per second.
As per the community, the factors by which the market trend is in “favor” of NEO are, the association with Onchain, the presence of various assets and improvement in technology. Various other factors like partnerships, governments and digital corporations and the upcoming Trinity project will serve to be useful in the growth of NEO.
The Trinity project aims at carrying out complex processes and transactions to be done off-chain, with only the final product running on-chain. This will eliminate the problem of congestion on the main-chain and thereby increase the scalability potential as compared to others like Ethereum. This also will get a drastic increase in the number of projects launching on the NEO platform, which is a plus to the value of NEO in the smart contracts space.
Pedro Bernardo, an analyst and a reporter says,
“Already NEO is way better than Ethereum in terms of costs and with trinity, you can expect the gap to widen even further. This will give NEO the extra edge it needs in its ride to the top, as the number one smart contracts platform”
The statistics show that there has been a considerable amount of decline in the market capital from $6.031 billion to $4.312 billion within the last 7 days. NEO, at press time, stands at a price of $66.53 with a market capital of $4.324 billion.
An altcoin miner says:
“Despite of the technological and strategical advances, NEO’s market price has dropped considerably. But this is not the end of NEO and cryptocurrencies as we know it. The world will know more and own more in near future.”
Taylor Matt, a financial advisor from Seattle says:
“The time when NEO hits $100 will be the time when it can attain some sort of stability. But right now feels like nothing is happening with them.”
To conclude, respondents feel that NEO has been bearish for a very long time and it could possibly be hitting bottom soon. Although markets follow Bitcoin, NEO supporters feel that soon it could break that pattern. For the next 2 days, respondents feel markets could drop further.
TRON is also a decentralized platform which uses the smart contract system and it empowers the users, utilizing blockchain technology. TRON began on the Ethereum’s blockchain as an ERC-20 token project. TRON has plans of breaking away from Ethereum with its testnet is going live on 31st of March 2018.
In the span of 7 days, TRON has been experiencing a decline in their values. From its peak in market capital at $16.752 billion on the 5th of January this year, it has come down to $1.897 billion (press time). It is currently at the 16th position according to coinmarketcap. It is currently priced at $0.028 with a market capital of $1.9 billion.
A TRX believer Jim Duffy’s views on TRX on mainnet:
“At last, a definitive piece of work on Tron that outlines its usefulness and capacity for growth. Many investors, like me, are not looking for massive ‘lambo’ spikes. We want a medium term growth strategy that is built on tech and commercial acuity.”
An altcoin miner says:
“Once TRX has gone live on the mainnnet, its scope for a stable growth will definitely improve and it may also flourish. But, you never know, the market is never static.”
Murat Huggins, an ex Tron investor says,
“There is just too much distraction and no work happening here. Heard about the fake releases they do to hype up the prices. I really hope they live up to the investors expectation. Honestly, Tron could drop even further as the required trust is lacking”
To conclude, the respondents believe that Tron has a lot of potential but is not really living up to its name. They believe the price could drop further down under the pressure of the market and could possibly lead the way to a bull run when the market turns green.
The post Litecoin [LTC], NEO, TRON [TRX] the upcoming giants – Sentiment Analysis – March 17 appeared first on AMBCrypto.
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