Novogratz disputes Litecoin on CNBC, is he right?

Billionaire, founder of Galaxy Digital, Mike Novogratz, does not respect Litecoin on CNBC.

Talk to the host Joe Kernen, the couple discussed the Fed’s moves regarding the macro landscape going on in 2022. In this regard, Novogratz spoke of “incredible [crypto] the adoption cycle ”, which he thinks will keep the current price form.

“You see this adoption cycle in such a fast-paced way. $ 30 billion in risky money has arrived. ”

His general conclusion, relating to property prices relative to the uncertain macro landscape, is that the property “can still function well”.

However, when it comes to mainstream coverage of leading crypto assets, Novogratz said Litecoin does not guarantee the exposure it gets.

What did Novogratz say about Litecoin?

Transition to CNBC’s crypto board, which featured Bitcoin, Ether, Litecoin, XRP and Doge, nuclei he asked the former fund manager if he would make changes to the management.

Novogratz responded by calling out Litecoin for its lack of community engagement, and also commented on its poor technological innovation.

“I’m weird that Litecoin appears on anyone’s, you know … it’s not something people do, it’s not technology …”

When asked what should be on the board instead of his place, Novogratz suggested Solana or Terra. The reason is that both of these projects have a strong community interest and also come with innovative development.

“Solana, Terra Luna, these are cryptocurrencies that the community under construction is interested in. And what we’re looking at is, who’s building on things, where’s the innovation, where’s the development? And so I would have Solana and Luna upstairs. ”

How is MimbleWimble progressing?

In early 2021, Litecoin was in fourth place CoinMarketCap, while Solana was 112th and Terra 62nd.

Twelve months apart, Solana now ranks 5th, Terra 9th, while Litecoin is on the verge of leaving the top twenty.

During 2021, the Litecoin MimbleWimble privacy integration speech was highlighted. Although the narrative has prompted imminent introduction, integration is not yet ready for publication.

Latest developer update David Burkett, as of December 3, shows that the project remains in the bug fix phase.

Still, recently report from the Kraken gives a positive picture for Litecoin going in 2022. Researchers say the activity on the chain is starting to increase by “digital silver”, suggesting it could translate into a “growth wave”.

They also point to a steady increase in the number of unique active addresses, reaching a record of 606,703 of all time since October 10th. Adding to that, the last time a similar setup happened, Litecoin went into price detection mode.

Posted in: Litecoin, People
Quadence

CryptoSlate newsletter

It contains a summary of the most important daily stories in the world of cryptocurrencies, DeFi, NFT and more.

Take it edge in the cryptocurrency market

Access multiple crypto insights and contexts in each article as a paid member CryptoSlate Edge.

Chain analysis

Price snapshots

More context

Join now for $ 19 a month Explore all the benefits

Leave a Comment