Litentry is a decentralized cross-chain identity aggregator built on Substrate. Substrate is a framework made especially for developing decentralized blockchains and it is intrinsically compatible with Polkadot, so obviously, Litentry launched as a parachain on the Polkadot Network. Polkadot is part of Web 3.0 and aims to increase the interoperability of all existing blockchains. LIT is the native utility token of Litentry, it was launched on the Binance in February 2021 and was listed on Uniswap, PancakeSwap, Gate.io, Hotbit, MXC, CoinEx, and DODO. LIT has strong connections with BNB, BUSD, DOT and at first, LIT was awarded for stacking these tokens. Lition (LIT) is on the Ethereum network (ERC-20) so it can be stored using any ETH compatible wallet. In the Litentry network LIT is used to pay fees for on-net transactions. LIT is also used as a concomitant for DeFi lending & borrowing services. And companies that will set up their identity databases on the Litentry network will receive compensations in LIT. Polkadot is growing right now: it became a top ten coin by market cap recently. So, all Polkadot-based projects also have a chance to rise in price. Litentry is working on really important problems with DIDs (decentralized identifiers), so if they succeed, LIT can also rise in price. Litentry is a very active company: their Twitter and GitHub get new posts often so it seems that they won’t abandon their project in the foreseeable future.
As of May 2021, financial analytics with one voice claim it a big chance to buy LIT at a fair price — the graph shows a significant decrease in price during May 2021’s crypto crash. Falling off from $13 in February to almost $7 in May, Litentry promises a perfect opportunity to recover and continue the further growth.
Despite the fact that 100% accurate technical analysis for Litentry cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated LIT buy-and-sell rating for selected timeframe. The summary for LIT/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Below we have collected the most reliable price projections for Litentry (LIT) from popular forecast platforms.
According to WalletInvestor, Litentry price will drop from $3.2058026 to $0.156 in one year. That makes LIT a bad investment. The long-term earning potential is -95.13%.
Answering the question about if Litentry is a good investment, TradingBeasts say resounding no. In the 2021 perspective, this coin price is predicted to reach $3.19237 with a growth to $5.47970 by the end of 2022.
In DigitalCoin analysis, the price of Lition cryptocurrency will rise in the next 5 years starting from $0.012 as of today’s price to $0.044. It will go up to $0.02 by 2022 and continue its growth in 2023–2024. Based on the forecast, Lition is profitable long-term investment.
As it can be clear from the analysis cited above, Litentry (LIT) projections are rather contradictory. There is no universal consensus either about positive or negative future LIT price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Litentry projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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