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What is Litentry

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What is Litentry (LIT)?

Litentry basic info

Name:Litentry

Ticker:

LITBuy now

Introduction:

What is Litentry (LIT)?

Litentry (LIT) enables user identities to be connected across different networks. This Decentralized Identity Aggregator provides a secure way for users to manage their identities, while also allowing Dapps to access real-time Decentralized Identity (DID) of identity owners across multiple blockchains. According to its whitepaper, Litentry aims to become the Parachain of the Polkadot Network. A Parachain is a globally rational data structure that is application-specific and validated by the relay chain validators.

How does Litentry (LIT) Work?

Litentry (LIT) allows users to connect their identities across multiple networks. Unlike traditional identities that involve centralized control, Litentry uses decentralized generation techniques to create identities that can be managed securely across different blockchains. The goal of Litentry is to become the Parachain of the Polkadot Network, which is a globally rational data structure that is application-specific and validated by the relay chain validators. By indexing data across blockchains, Litentry simplifies data management and allows users to leverage their identities according to their preferences without the need for account registration or new registry methods. This technology has the potential to revolutionize how we approach identity management and could potentially fix many of the issues associated with isolated ID registry systems.

What is the LIT Token?

The Litentry platform has its own native token called LIT, which is used to compensate validators for their efforts. The token also serves as a reward for validators and is required as a stake for the identity registrar to make decentralized judgments for users. Additionally, Litentry allows for the use of LIT tokens as a deposit currency for DeFi lending services with combined identity verification. If a user's credit score improves, their required deposit amount may decrease.

What is the Litmus network?

Litmus is a canary network that works alongside Litentry and is connected to the Kusama ecosystem as a parachain. It is designed to be highly advanced and fast-paced, providing a perfect testing ground for new products and ideas before they are implemented on the Litentry parachain.

Current price:

$0.7922More price details

All-time high:$14.73

All-time low:$0.3893

LIT supply and tokenomics

Circulating supply:66,447,412 LIT

Total supply:100,000,000 LIT

Max supply:100,000,000 LIT

Market cap:$52.64M

Fully diluted market cap:$79.22M

Token allocation:

Parachain Auction & Ecosystem

45.00%

Foundation

17.00%

Team

15.00%

Strategic Sale

11.89%

Seed sale

8.11%

Binance Launchpool

3.00%

Tokenomics:

Token utility

LIT token is the native cryptocurrency of the Litentry, including Litmus parachain on Kusama and Litentry parachain on Polkadot with the following utilities:

Pay transaction fees in the network
Incentivize collators and fund promotion campaigns to support Litentry parachain
Empower governance mechanisms in the chain, including proposing referendums, the election of council members, voting in a referendum, etc.
Serve as the utility token for identity product or service
Collator staking

Links

Website:https://www.litentry.com/

Whitepaper:https://docs.litentry.com/

X:https://twitter.com/litentry

GitHub:https://github.com/litentry/

Buy Litentry for $1Buy LIT now

What is the development prospect and future value of LIT?

The market value of LIT currently stands at $52.64M, and its market ranking is #646. The value of LIT is not widely recognized by the market. When the bull market comes, the market value of LIT may have great growth potential.

As a new type of currency with innovative technology and unique use cases, LIT has broad market potential and significant room for development. The distinctiveness and appeal of LIT may attract the interest of specific groups, thereby driving up its market value.

What will the price of LIT be in 2025?

Based on LIT's historical price performance prediction model, the price of LIT is projected to reach $1.03 in 2025.

What will the price of LIT be in 2030?

In 2030, the LIT price is expected to change by -17.00%. By the end of 2030, the LIT price is projected to reach $1.22, with a cumulative ROI of +57.74%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of LIT and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

LIT price LIT price prediction LIT news

Is LIT worth investing or holding? How to buy LIT from a crypto exchange?

If you want to buy LIT, the following information may be helpful for your investment decisions:

In the last 7 days, the price of LIT has fallen by -22.23%, leading to negative returns for most LIT investors. The market is currently pessimistic about the price trend of LIT.

It is important to note that the current price of LIT has retreated by -94.62% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether LIT is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in LIT or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of LIT, if you want to buy or sell LIT, you can consider Bitget for your trading needs. The best place to buy LIT is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in Litentry has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Litentry. Here's a step-by-step guide on how to buy Litentry on Bitget.

Buy LIT now Coin buying guide

How to get Litentry through other methods？

Using cash to buy Litentry is not the only way to obtain Litentry. If you have the time to spare, you can get Litentry for free.

Learn how to earn Litentry for free through the Learn2Earn promotion.

Earn free Litentry by inviting friends to join Bitget's Assist2Earn promotion.

Receive free Litentry airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to Litentry through Bitget Convert, Bitget Swap, or spot trading.

What is Litentry used for and how to use Litentry?

The use case of Litentry may expand as the crypto market and the project itself develop. Currently, you can use LIT to achieve the following goals:

Arbitrage by trading LIT: Since LIT is a frequently traded cryptocurrency, the price of LIT is always fluctuating. Earn more LIT by buying low and selling high on the exchange. Bitget spot market provides a variety of LIT trading pairs to fully meet your needs.

Earn by staking LIT: You can also generate income through financial management methods such as staking LIT or lending LIT. Bitget Earn offers a variety of financial products designed to help you earn more income from your LIT.

Send or pay LIT: If you want to give LIT to your friends, a charity, or a fundraiser, or you want to pay someone with LIT, you can quickly and easily send LIT to the recipient through their payment address.

You can also go to the official website of the Litentry project to learn more about the use cases of LIT. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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