Skip to main content

Market Overview

Dogecoin Pushes Litecoin Hashrate To All-Time High: 'Meme Game Is Strong'

Share:
Dogecoin Pushes Litecoin Hashrate To All-Time High: 'Meme Game Is Strong'

Litecoin’s (LTC) mining hashrate has hit an all-time high and that is in part thanks to Dogecoin (CRYPTO: DOGE), according to the former's founder Charlie Lee.

What Happened: The LTC mining hashrate rose to over 500 TH/s. Lee said this implies LTC’s network performed 500 trillion hashes or calculations per second. 

“This is thanks in part to our friends at @dogecoin, who are mining together with us to secure both networks,” said Lee, tagging the official Dogecoin Twitter account in his post. 

Lee said he would consider having “Dogecoin” in his background image in response to a Twitter user. 

See Also: How To Get Free NFTs

Why It Matters: The Litecoin creator also addressed why DOGE has a larger market cap than the coin he created.

“Meme game is strong! It’s good for Litecoin as most money is spent on securing the Litecoin network,” said Lee.

Dogecoin has a market cap of $17.3 billion, while Litecoin’s market capitalization stood at $7 billion, according to CoinMarketCap data.

Billy Markus, the co-creator of Dogecoin, said in a 2021 interview with Benzinga that the auxiliary proof-of-work or AuxPOW, announced in 2014 after it was suggested by Lee, allows Dogecoin to be merge-mined with any Scrypt coin. 

Markus said at the time that trying to help the Dogecoin community to accept AuxPow was the last thing he did before moving away from the project in 2014.

Price Action: At press time, over 24 hours, DOGE traded 0.6% higher at $0.13, while LTC traded 0.7% higher at $100.10, according to Benzinga Pro data. 
Read Next: 'Predatory' Cryptos: Wikipedia Stops Taking Bitcoin, Ethereum Donations

 

Related Articles ($DOGE)

View Comments and Join the Discussion!

Posted-In: Charlie Lee dogecoin LitecoinCryptocurrency News Markets Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com