5 Cryptocurrencies to Watch Amid Russia’s Attack on Ukraine

4. Litecoin

Litecoin is the most popular Bitcoin alternative in Russia. Amid sanctions, the economic fortunes of ordinary Russians could decline as trade with the West becomes tougher. In this scenario, it may not be viable for these people to invest in expensive coins like Bitcoin, which is the most popular cryptocurrency around the globe and also the most pricey. Litecoin, one of the earliest Bitcoin spin-offs and similar to the parent coin in many ways except transaction speeds, could see a surge in value. 

Litecoin was founded by Charlie Lee, a former Google employee. One of the biggest reasons for buying Litecoin is that the network on which it runs offers transaction speeds that are four times faster than the Bitcoin network. Other differences include block generation time, hashing algorithm, and the maximum number of coins.