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Litecoin is known as the silver to Bitcoin’s (BTC) gold and is slowly gaining acceptance as a means of payment along with famous cryptocurrencies such as Bitcoin and Ethereum (ETH). On November 12, AMC Entertainment Holdings, Inc. (NYSE:AMC) CEO Adam Aron tweeted that AMC will start accepting cryptos such as Litecoin, Bitcoin, Ethereum, and bitcoin cash for online payments. However, according to CoinShares data, Litecoin was the only crypto to register outflows of $0.6 million, month-to-date.
Nevertheless, according to a Data Bridge Marketing report, the cryptocurrency mining market is expected to grow at a 11.5% rate over the next seven years. Even though Litecoin generated significant returns this year, crypto mining stocks Marathon Digital Holdings, Inc. (MARA), Riot Blockchain, Inc. (RIOT), Hut 8 Mining Corp. (HUT), and Bitfarms Ltd. (BITF) have performed even better. Therefore, it could be wise to add them to your watch list now.
