Welcome to ETC Group

ETC Group logo

Please select your country of residence and investor profile in order to access content and information around our ETC products

Cookie Settings

Required cookies

These cookies are necessary to ensure the smooth functioning of this website (e.g. session cookies, cookie to store the selected cookie preferences, etc.). These required cookies can thereforce not be deactivated.

Optional cookies

Functional cookies are used to ensure the smooth functioning of all tools on the wesites. The entire and proper function of the webite is available to the user only with the use of functional cookies. The use of analysis cookies serves the ongoing quality improvement of this website and its content. By using them, wa aim to maximise user satisfaction.

Avis Important

Des produits tels que BTCetc - ETC Group Physical Bitcoin ("BTCE") sont des Exchange Traded Commodities ("ETC"), instruments financiers considérés comme des titres de créances complexes par l'Autorité des Marchés Financiers présentant des risques difficilement compréhensibles par le grand public. A ce titre, leur distribution en France répond à des règles spécifiques. Il relève de la responsabilité des intermédiaires et investisseurs professionnels souhaitant offrir des ETCs à leurs clients de s'assurer que leur distribution auxdits clients est réalisée dans le respect de la réglementation française.

Terms of website use

These terms and conditions (the “ Terms ”) tell you the terms on which you may make use of our website https://etc-group.com/ (“ Website ”).

Please read these Terms carefully before using this Website. By using this Website, you are deemed to have read and accepted our Terms and Conditions as set out below. If you do not agree to these Terms, you must not use this Website.

Your attention is particularly drawn to the disclaimers and limitations of liability set out in the sections below headed: “ Disclaimer ”, “ No Offer ” and “ Limitation of Liability ”.

Information about us

The website is owned and operated by ETC Management Ltd, a company registered in England and Wales under number 12165332 with its registered office at Gridiron, One Pancras Square, London, England, N1C 4AG.

You can contact us by email at info@etc-group.com.

References to “ ETC Group ”, “ we ”, “ us ” and “ our ” in these Terms refers to ETC Management Ltd and our affiliates.

These Terms

These Terms constitute the agreement between you and us for the use of this Website and the contents and services available through it.

We may change these Terms from time to time. Any changes we may make to these Terms in the future will be posted on this Website and, where appropriate, notified to you by email. By continuing to use and access this Website following such changes, you agree to be bound by any changes we make. Please review this page frequently to see any updates or changes to these Terms.

If you commit a breach of these Terms, we reserve the right at our sole discretion to immediately and without notice suspend or permanently deny your access to all or part of this Website.

Website

We provide this Website on an "as is" and "as available" basis with all faults. We do not guarantee that this Website, or any services or content on it, will always be available or be uninterrupted. We may suspend, withdraw, discontinue or change all or any part of this Website without notice. You agree that your use of this Website is at your own risk. We will not be liable to you if for any reason this Website is unavailable at any time or for any period.

You are responsible for ensuring that all persons who access this Website through your internet connection are aware of these Terms and other applicable terms and conditions, and that they comply with them.

We may update and change this Website from time to time to reflect changes to our products and services, our users' needs and our business priorities.

Distribution of Information

The distribution of the information and material on this Website may be restricted by law in certain countries. None of the information is directed at, or is intended for distribution to, or use by, any person or entity in any jurisdiction (by virtue of nationality, place of residence, domicile or registered office) where publication, distribution or use of such information would be contrary to local law or regulation.

You must inform yourself about and observe any such restrictions in your jurisdiction. By accessing this Website you represent that you have done so. By accepting these Terms, you hereby confirm that you are allowed to access this Website pursuant to applicable laws.

Lawful use

You may use this Website only for lawful purposes. You must not use this Website in any way that breaches any applicable local, national or international law or regulation, or in any way that is unlawful or fraudulent or has any unlawful or fraudulent purpose or effect.

You must not use or attempt to use any automated program (including, without limitation, any spider or other web crawler) to access our system or this Website. You must not use any scraping technology on this Website.

Disclaimer

Certain documents made available on this Website may have been prepared and issued by persons other than ETC Group. This includes any prospectus and additional documents thereto. ETC Group is not responsible in any way for the content of any such document.

While we take all reasonable care to ensure the information and analysis which we publish on this Website are as accurate as possible, we cannot promise that they will be complete, accurate and up to date.

Opinions and any other contents on this Website are provided by us for informational purposes only and are subject to change without notice. We are not giving you any advice (investment, financial, legal or otherwise) in respect of any of the information on this Website. You should obtain professional or specialist advice before taking, or refraining from, any action based on any information on this Website. Any reliance that you may place on the information on this Website is at your own risk.

To the maximum extent permitted by law, we disclaim any and all implied conditions, warranties and representations that this Website and the information and services available through it are of satisfactory quality, accurate, fit for a particular purpose, or non-infringing.

No offer

Nothing on this Website should be construed as an offer, or recommendation, to purchase or dispose of any product or securities. The prices and valuations published on this Website are indicative and are for information purposes only, as is other information displayed on this Website.

Any person making offer of securities described on this Website shall observe and strictly comply with restrictions on the usage of information pursuant to these Terms, as well as any restriction imposed by a prospectus published with respect of any securities described or applicable laws and regulation, including without limitation restrictions imposed by the EU Prospectus Regulation (REGULATION (EU) 2017/1129 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 14 June 2017).

Authorised Investors

Some documents displayed on this Website and its content are restricted to “Professional Investors” only and are not intended for retail or private investors. By making use, opening, or downloading such documents, you agree that you are an “Institutional Investor” (as defined here: https://www.handbook.fca.org.uk/handbook/COBS/3/5.html), and have read, understood and accepted the conditions.

The securities described on this Website are not permitted to be offered for sale in all countries and are in each case reserved for investors who are authorised to purchase the securities. Selling restrictions applicable to specific products are set out in the relevant prospectus and should be read carefully by investors. Any restrictions imposed by the relevant prospectus are in addition and without prejudice to any restriction or prohibition established by laws or regulations of any jurisdiction.

United States Persons and legal entities resident in the United States

Securities issued by ETC Group have not been registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act"). The Bonds are being offered outside the United States of America (the "United States" or "U.S.") in accordance with Regulation S under the Securities Act ("Regulation S"), and may not be offered, sold or delivered within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

The information provided on this Website is not directed to any United States person or legal entity or any state thereof, or any of its territories or possessions.

U.S. PERSONS (AS DEFINED IN REGULATION S) AND LEGAL ENTITIES RESIDENT IN THE UNITED STATES MAY NOT ENTER THIS WEBSITE.

Information from this Website may not be distributed or redistributed into the United States or into any jurisdiction where it is not permitted.

Limitation of liability

ETC Group shall not be responsible for any damage (including, without limitation, damage for loss of business or loss of profits) arising in contract, tort or otherwise from the use of, or inability to use, this Website or any material contained in it, or from any action or decision taken as a result of using this Website or any such material.

We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or for fraud or fraudulent misrepresentation.

Viruses

We do not guarantee that this Website will be secure or free from bugs or viruses.

You are responsible for configuring your information technology, computer programmes and platform in order to access this Website. You should use your own virus protection software.

You must not misuse this Website by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to this Website, the server on which this Website is hosted or any server, computer or database connected to this Website.

Risk Warnings

You should always bear in mind that:

  • Cryptoassets are a highly volatile asset class. Your capital is at risk. The value of cryptoassets can go down as well as up and you can lose your entire investment.
  • Past performance is not an indication of future performance.
  • Rates of exchange may affect the value of investments.
  • Applications to invest in securities referred to on this website must only be made on the basis of the relevant prospectus.

Investors should refer to the section entitled “Risk Factors” in the relevant prospectus for further details of these and other risks associated with an investment in the securities offered by the Issuers before investing.

Copyright

All content and the design of this Website are owned by ETC Group or our licensors and protected by copyright and other applicable laws.

Any copying of the website or of its content requires the prior written consent of ETC Group.

Your Privacy

ETC Group respects the privacy of users. Please see our Privacy Policy for information setting out how we handle personal information collected through the Website.

Hyperlinks

Some of the hyperlinks contained on the Website may lead the user to external websites that are not under the control of ETC Group. ETC Group does not approve or endorse the contents of such websites and does not control the content of any such websites. When the user clicks on such a link, the user will leave the Website. ETC Group is not responsible for the content of any websites reached by means of such a link.

Governing Law and Jurisdiction

These Terms and Conditions and your access to and use of this Website and the content are subject to the laws of England and Wales. However, if you are a consumer resident in another part of the UK or in any EU country, then you will also be entitled to any additional protection afforded to you under your national consumer protection laws.

You can bring legal proceedings in respect of these Terms in the English courts or, if you are a consumer resident in another part of the UK or in any EU country, the courts of your home country.

The products displayed on this website are not available for subscription or purchase by retail investors in your selected jurisdiction. Please contact your broker or financial adviser for further information.
This website and the products displayed on this website are not available to retail investors in the United Kingdom. Please contact your financial adviser for further information.
back to articles
Cet article n’est disponible qu’en anglais
/static/images/patterns/litecoin-bg_article_2x.jpg
newsletter
Tom Rodgers
Tom Rodgers Head of Research
Partager Share on Linked In Share on Twitter

LTC Q2 2021 results

Worldwide: 10 August 2021 - Litecoin (CRYPTO: $LTC), a leading decentralized payments network, reports financial results for its second quarter ended 30 June 2021.

Key Indicators

Total transaction volume increased over 2,500% YOY on the Litecoin blockchain: to $340.3 billion in Q2 2021, compared to $12.8 billion in Q2 2020.
Total transaction volume graph
Total transaction fees increased almost 1,000% YOY. Also known as network revenue (the fees paid to miners) transaction fees increased 968.4% to US$ 0.41 million in Q2 2021, compared to US$ 0.04 million in Q2 2020.
Total transaction fees graph
Median transaction fees remained remarkably stable despite large ecosystem gains. Median fees increased just 11.0% to $0.0011 in Q2 2021, compared to $0.00099 in Q2 2020.
Median transaction fees graph
Daily active addresses increased more than 250% YOY. A proxy for daily active users, active addresses climbed 260.8% to 313.4k in Q2 2021, compared to 86.9k in Q2 2020.
Median daily active addresses graph

Results Table

Q2 2020 Q2 2021 Y/Y
Transaction volume ($b) 12.8 340.3 2.563%
Transaction fees ($m) 0.04 0.41 968%
Median transaction fee ($) 0.00099 0.0011 11%
Daily active adresses (k) 86.9 313.4 261%
LTC supply (m) 65.4 68 4%

Litecoin Quarter Review: Q2 2021

In Q2 2021 Litecoin saw the most significant US$ value transfer over its network in its almost ten-year history, totaling US$28,1 billion or 91.1 million Litecoins. This value eclipses the previous largest day printed on December 21 in 2017, which reached $11.5 billion.

Litecoin was created by Charlie Lee as a fork of Bitcoin in 2011 and as such remains the most enduring altcoin in the cryptoasset sector. As the Litecoin Foundation, the non-profit organisation dedicated to promoting the decentralised payment network noted on 22 June 2021, Litecoin continues to have 100% uptime, maintaining security and transparency for users.

While in Q2 2021 it has been overtaken in the top 10 most valuable cryptoassets by market cap, Litecoin’s stability and longevity remains an important factor in institutional portfolio allocation.

As demand for digital assets amongst the traditional investment community steadily increases, we are starting to see the green shoots of demand for investment exposures outside of the top two dominant networks, Frank Spiteri, CRO at CoinShares.

As we heard in Q1 2021, Grayscale bought 80% of all Litecoin mined in February (over 174,000 LTC), demonstrating demand among accredited and institutional investors for the premier altcoin.

The release of physically-backed Litecoin ETPs by ETC Group’s Litecoin ETC (ELTC) on Deutsche Börse XETRA on 12 April and Coinshares (LITE) on the SIX Swiss Exchange on 6 April 2021, reflect this growing appetite for a greater depth of cryptoasset allocation. As the name suggests, Lee’s intention for Litecoin was to be a ‘light’ version of Bitcoin: an altcoin more suited to payments than the original cryptocurrency, with faster transaction times and lower fees.

Litecoin Core, the code that underpins the blockchain, is written in the highly-popular and common programming language C++, while Python is used for some ancillary tools. That means its code is simple for external developers to use and understand.

With its faster block times and higher transaction throughput, Litecoin was conceived as a more practical and scalable medium of exchange than Bitcoin. The growing results of this can be seen in Litecoin’s daily active addresses, which grew strongly in Q2 2021 to an average of over 300,000 users.

The stability of its transaction fees — as Litecoin is used primarily as a payments network — is key, and we saw network fees rise only 11% to a median of less than 1 US cent per transaction.

In terms of adoption, the number of companies accepting Litecoin also increased 73.4% to 2,713 in Q2 2021, compared to 1,565 in Q2 2020.

Litecoin has grown by 342% in the past 12 months and is the ninth-largest cryptocurrency by market capitalization at US$14.6 billion with growing interest from institutional and retail investors. Bradley Duke, CEO, ETC Group.

Key Litecoin Events

Venmo, currently ranked the second most popular financial app in the U.S., has started allowing its 52m+ users to store, buy, and sell Litecoin, and other cryptocurrencies, on its platform.
Venmo logo
ForUsAll Inc., a 401(k) provider, announced a deal with the institutional arm of Coinbase Global Inc, that will allow workers in plans it administers to invest up to 5% of their 401(k) contributions in Litecoin.
ForUsAll logo
Saxo Bank, an online trading and investment specialist, is launching a new cryptocurrency offering. Clients from the MENA region will be able to trade Litecoin, Bitcoin, and Ether against EUR, USD, and JPY from a single margin account.
Saxo Bank logo
Hello Pal, a Canadian tech firm, became the first listed company to own a Litecoin mining arm when it bought the Crypto Pal startup on 25 May 2021.
Hello Pal logo
Two investment firms, ETC Group and CoinShares, launched institutionally-focused Litecoin ETP products in Q2 2021. ETC Group Physical Litecoin (ELTC) launched on SIX Swiss Exchange on 25 May 2021, just four weeks after listing its LTCetc Physical Litecoin ETC on Deutche Börse XETRA. On 6 April 2021, CoinShares listed its Physical Litecoin ETP (LITE) on the SIX Swiss Exchange.
ETC Group and Coinhares logo

Litecoin Technical Update

In March 2021, The Litecoin Foundation completed the code for MWEB (Mimblewimble via Extension Blocks), an essential upgrade to the Litecoin protocol. With this update, Litecoin will become more scalable and able to transaction amounts un-viewable to the public, making it the best choice for payments while protecting sender/receiver’s data.

Litecoin’s implementation of MWEB continues apace, and a 5 May 2021 update noted that the privacy and scalability update remains on track for launch the end of 2021. Lead developer David Burkett has added automated builds for Linux and Windows, allowing for faster feedback, as well as allowing non-developers to aid with testing without needing to build the code themselves.

On 19 June, the largest supplier of cryptocurrency mining machines, Bitmain, announced it would release a new ASIC-based Scrypt miner that is four times faster than current hardware. Journalists at the event reported the L7 miner purports to have a hash rate of 9500MH/s. Scrypt is the consensus algorithm that secures Litecoin, along with several other cryptocurrencies including Dogecoin, Digibyte and Verge. Quicker and more readily available mining systems are expected to make securing Litecoin’s network more simple and cost effective, as well as upping transaction process throughput.

Litecoin Outlook

Litecoin does get additional value from being so closely tied to Bitcoin and is commonly referred to as the ‘digital silver’ to Bitcoin’s ‘digital gold’. Both assets have a hard-capped supply that gives the assets a scarcity aspect similar to precious metals. However, the developments we have seen this quarter run far beyond that simplistic analogy.

And while Litecoin has fallen out of the top ten crytpoassets by market cap in Q2 2021, significant upcoming technical developments may pull it back into contention.

The development of the Litecoin project is overseen by a non-profit Singapore-based Litecoin Foundation, with Charlie Lee as a managing director. Although the Foundation and the development team are independent, the Foundation provides financial support to the team.

MWEB represents is a significant evolution for the Litecoin protocol, promising to improve privacy and fungibility and its release towards the end of 2021 is on track, according to the Foundation.

And so while comparatively little academic or media attention is focused on Litecoin, its network effects continue to improve. Now in its tenth year of 100% uptime, Litecoin remains a secure blockchain with a large user base, and the addition of institutionally-focused ETP products is testament to this effect. More institutional investors are seeking exposure to Litecoin but, true to the ETP theme across cryptoassets, want it with the safety and liquidity of a centrally cleared exchange-traded product.

Litecoin has also benefited and is continuing to benefit from the recently released Checkout with Crypto service from PayPal. Users can now use digital currency to purchase on all 29 million merchants that accept PayPal.

Credits: Article layout originally inspired by James Wang

Disclosure | Copyright © 2022 ETC Group. All rights reserved

Plus d'articles