KEY POINTS

  • Litecoin was one of the first altcoins introduced in the industry in 2011
  • It was inspired by Bitcoin
  • LTC was trading up 4.03% at $57.66

The team behind Litecoin (LTC), the decentralized peer-to-peer crypto inspired by Bitcoin and one of the earliest altcoins in the industry, clapped back at the latest statement of Shiba Inu's pseudonymous lead developer Shytoshi Kusama over the weekend.

Kusama blasted Bloomberg on Saturday and requested it to stop calling Litecoin the third option after the world's first crypto, Bitcoin (BTC) and the world's second-largest crypto asset Ethereum (ETH. "Someone tell @business to stop showing Litecoin as the third option to BTC AND ETH. #imjustsayin," the tweet read.

Litecoin immediately responded to the Shiba Inu lead developer's tweet, noting, "You're right, should be first." LTC's tweet, and its implication, would have been fairly accurate more than a decade ago. But with LTC now sitting at the 20th spot in CoinMarketCap's ranking by market capitalization, the altcoin's devs sound really ambitious. Kusama's SHIB sits at the 16th spot, showing the reason for his anger.

Created by a former Google engineer and an MIT graduate Charlie Lee, Litecoin was released in 2011 and earned the moniker "the silver to Bitcoin's gold." Like all other crypto assets, LTC's development is ongoing and it even holds regular conferences.

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018.
Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. Reuters / DADO RUVIC

However, it looks like it was never able to shine its light nowadays and remained in the shadows of other popular altcoins like Shiba Inu and Dogecoin. DOGE has the Tesla CEO and tech billionaire Elon Musk behind its back, always supporting.

Meanwhile, Shiba Inu advertises itself as a community-driven altcoin and, over the years, has partnered and collaborated with other big names in various industries. It also takes pride in its very active community known as the Shib Army, which is a force to reckon with when it comes to loyalty and support.

Shiba Inu is also working on its version of metaverse dubbed "Shib: The Metaverse," planning to roll out new games, developing its Layer-2 solution called Shibarium, and will soon release an algorithmic stablecoin SHI and another token named TREAT.

AS of 1:05 a.m. ET on Monday, LTC was trading up 4.03% at $57.66 with a 24-hour volume of $578,274,560 while SHIB was trading up 1.32% at $0.0000111 with a 24-hour volume of $274,822,196, based on the latest data from CoinMarketCap.

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