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Futures News, August 17th: The progress of diplomatic contacts between the US and Iran has slowed, and the geopolitical dynamics are exhibiting multiple characteristics. Changes in expectations regarding the Strait of Hormuzs reopening: Initial estimates of US-Iran negotiations and the resumption of navigation in the Strait of Hormuz pushed down crude oil prices. However, with Iran demanding the lifting of sanctions and compensation, and the US also making corresponding claims, the pace of negotiations slowed, and previous expectations for a rapid resumption of navigation were revised. Traders are now incorporating the uncertainty of the shipping route into asset pricing. Supply recovery progress assessment: The ongoing geopolitical situation in the Middle East continues to affect the recovery of regional oil production and logistics. Assessment data indicates that although OPECs total production in July is estimated at approximately 19.4 million barrels per day, this is still below the pre-war level of 27 million barrels per day. According to EIA estimates, approximately 5.5 million barrels per day of production capacity in the Middle East remained shut down in July. If shipping through the Strait of Hormuz continues to be disrupted in August, the scale of production shutdowns is estimated to expand to 6.6 million barrels per day. From the perspective of market capital and position changes, with the increasing uncertainty of diplomatic negotiations, short positions previously established based on the expectation of a rapid resumption of navigation in the Strait of Hormuz have been adjusted, and geopolitical risk factors are once again reflected in market pricing. Against the backdrop of low traffic volume in the Strait of Hormuz, short-term prices have broken away from the previous downward trend, and the markets sensitivity to geopolitical news has significantly increased. Overall, the fluctuating progress of US-Iran negotiations and expectations of navigation in the Strait of Hormuz have prompted the market to reassess the risk premium on the supply side of crude oil. The core focus of the market going forward will remain on: the actual navigation status of the Strait of Hormuz, the subsequent progress of US-Iran diplomatic negotiations, and the evolution of the regional geopolitical situation. The subsequent development of these fundamental and logistical variables will continue to serve as the main basis for the markets assessment of the supply structure.On August 17th, the General Office of the Hunan Provincial Peoples Government issued the "Implementation Opinions on Accelerating the Development of the Intelligent Robot Industry." The opinions propose cultivating a number of leading enterprises across the entire intelligent robot industry chain, establishing a regular support mechanism involving provincial and municipal governments, supporting enterprises in integrating resources across industries, and promoting their transformation into technology-exporting and ecosystem-operating enterprises. The opinions also call for improving the listing service mechanism for various intelligent robot companies and supporting them in accelerating their access to the capital market. Furthermore, the opinions encourage leading enterprises to take the lead in establishing innovative application consortia to undertake major national and provincial scientific and technological research projects.On August 17th, the General Office of the Hunan Provincial Peoples Government issued the "Implementation Opinions on Accelerating the Development of the Intelligent Robot Industry." The opinions propose focusing on industrial robots, service and consumer robots, and special-purpose robots, to build an intelligent robot industry chain integrating key materials, core components, complete machine R&D, pilot testing and verification, intelligent manufacturing, scenario applications, and data feedback, promoting collaborative research and development and industrialization across all links. By 2028, the province aims to achieve a revenue exceeding 100 billion yuan for the intelligent robot industry chain; significantly improve the development level of key basic materials, advanced manufacturing processes, and core components; cultivate approximately 5 leading enterprises in the chain; and create a number of specialized and innovative supporting enterprises. By 2030, the province aims to achieve a revenue exceeding 200 billion yuan for the intelligent robot industry chain; mature the independent supporting system for core components and key materials such as precision transmission, high-precision sensing, motion control, and lightweight alloys; cultivate approximately 10 leading enterprises in the chain; and achieve a comprehensive industrial strength ranking among the top tier nationwide.According to Yonhap News Agency, South Korea says the $200 billion investment plan reached with the United States in tariff negotiations still has unresolved issues.August 17th - The State Council Information Office will hold a press conference at 3:00 PM on August 18th, 2026. Assistant Minister of Commerce Yuan Xiaoming and relevant officials from the Ministry of Agriculture and Rural Affairs, the Ministry of Culture and Tourism, and the State Administration for Market Regulation will introduce the relevant situation regarding stimulating the vitality of lower-tier markets and boosting county-level consumption, and answer questions from reporters.

What Is Litecoin?

LEO

Oct 25, 2021 14:08

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Litecoin (LTC)


Litecoin (LTC) is an alternative cryptocurrency created in October 2011 by Charles "Charlie" Lee. Litecoin is a fork of Bitcoin (BTC). 


Litecoin is often referred to as the 'silver' to Bitcoin’s 'gold'. This is because Litecoin uses much of the same code as Bitcoin and therefore shares many similarities, but it is currently faster and cheaper. While Litecoin shares the same protocol as Bitcoin, it operates on its own separate blockchain.


Charlie Lee is a graduate of the Massachusetts Institute of Technology and a former Google engineer who became interested in Bitcoin in 2011. According to Lee, "In October of 2011, I was playing around with the Bitcoin code base, and I guess the short of it was that I was just trying to create...a fork of Bitcoin. It was mainly a fun side project.”


Bitcoin vs. Litecoin


Although Litecoin shares many similarities to Bitcoin, it has a number of differences in terms of the mining algorithm it uses, fees, supply and speed at which transactions are confirmed.


bitcoin VS lit.png

Photo: investopedia


Transaction differences


One of the primary differences between the two cryptocurrencies is that Litecoin takes 2.5 minutes to generate a block of transactions, as opposed to Bitcoins 10 minutes. This means that Litecoin can confirm transactions roughly four times faster than Bitcoin. This difference in transaction time could make Litecoin more attractive to merchants, which is why Litecoin is often regarded as a currency for day-to-day transactions while Bitcoin is currently considered more of a store of value. 


Proof-of-work algorithm


While both are proof of work, Bitcoin uses the traditional SHA-256 hashing algorithm. Litecoin uses a comparatively new algorithm known as Scrypt. Another key difference between the two is that Scrypt requires less computing power, making it possible for regular users to participate in mining with less complexity.


Coin limit and block rewards


The total limit for Bitcoin is 21 million, while Litecoin has a limit of 84 million. Once these limits are reached, no new coins will be created. These rewards are halved in order to limit the number of new coins released into the circulating supply to create scarcity. Bitcoin block rewards are halved every 210,000 blocks, while Litecoin block rewards are halved every 840,000 blocks.


What factors affect litecoin’s price?


Litecoin’s volatility is likely to be driven by similar factors to bitcoin, for example:


Regulation


Cryptocurrencies are currently unregulated by governments and central banks. There are questions about how this could change in this next few years, and what impact this could have on value.


Supply


There is a finite number of litecoin available to be mined (84 million). Availability can also fluctuate depending on the rate at which the coins enter the market.


Press


Prices of litecoin can be affected by public perception, security, longevity and the prices of other cryptocurrencies such as bitcoin.


Adoption


Litecoin hasn’t currently been adopted by businesses or consumers as a method of payment. But, some see potential in the blockchain technology and think this could become more widely adopted in the future.


How to invest Litecoin (LTC)?


Coinbase is the most popular and easiest place to buy and sell Bitcoin, Bitcoin Cash, Ethereum, and Litecoin all in their app 


Also, you can invest Litecoin CFD; while there is no actual ownership, an Litecoin CFD gives investors exposure to the risk and rewards associated with owning Litecoin.


Trading Ethereum CFDs allows you to perform trades quickly, without the need to sign up for a cryptocurrency wallet or register on a cryptocurrency exchange.


Litecoin price prediction


According to long-term forecasters such as the Economy Forecast Agency (EFA), Litecoin predictions 2021-2025 indicate that it could remain around $150 during the first quarter of 2021 and rise to a new peak of $260 in January 2022 then slowly glide back to lower levels the rest of the year to almost $100 in October 2022. 


LTC is expected to spike in the first quarter of 2023 with a peak in March at $193. A downward trend is forecasted for the remainder of the year and in most of 2024. Finally another rise is a main point of Litecoin’s price prediction 2025 with a climb to $174 in January of that year.


Meanwhile, Walletinvestor, known for its conservative forecasts, believes in a bullish Litecoin price forecast in 2021. It believes that in 12 months’ time the LTC price will rise up to $219, making it a good long-term investment.

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