LeaCoin (LEA) is peer-to-peer cryptocurrency which was launched in mid-early 2015. It is a decentralized crypto which operates without any central authority breathing down its neck. The design of the coin is to enable instant payments to anyone and anywhere around the globe. LeaCoin is based on Bitcoin protocol. However, it is a bit different in that it offers its users faster transaction confirmation times (2 minutes on average). This coin employs proof-of-work (PoW) system which utilizes SHA-256 algorithm. This comes with an average block target of half a minute and the difficulty adjustments are done every 2 blocks.
Understanding LeaCoin better
LeaCoin developers have set aside a donation of premined 10 million LEAs to needy children from all over the world. Over time, LeaCoin is scheduled to produce 2 billion minable currency units. Of this, 1 billion units will be produced in the first 5 years and the balance in the next 45 years. The currency is listed on 2 main derivatives exchanges.
LeaCoin is based on kids’ games. The founder of the coin actually dedicates the coin to his daughter who goes by the name Lea. On the official website, the coin is portrayed as a kids’ game oriented coin. You can access your LEA coin by using any of the five links provided on the cryptocurrency’s website.
LeaCoin has passed the 1 million mark
At LEA’s launch in 2015, the price was $0.000011 while its market cap started as $200. It is not until early 2017 when the market cap passed the $10,000 mark and the price went beyond $0.000075. Just like the major cryptos of 2017, LEA’s price surged in the final months of 2017. Market cap of the currency surpassed the $100,000 mark.
LEA started 2018 at a comfortable price of $0.00070 while its market cap was over $220,000. Even though the price has been below the $0.0009 for most of the days in 2018, the ceiling was finally broken on January 26th when the price reached $0.00124. The market cap has been on the rise in 2018 and it stood at $1.112 million while traded volumes were $2.03 million as of 31st January. On 30th of January, LEA price reached an all-time high of $0.00708. The coin gained by 64% 24 hours later to reach $0.00347. This is based on the closing price during the previous trading’s day.
How does the future of LEA look like?
LeaCoin is currently one of the fastest growing coins. Unlike Bitcoin which saw its price dip further to close at $10,106 on 30th January, LEA is gaining at a very fast rate. Investors have started embracing other cryptos other than the traditional big ones. Traders seem to be looking more at what a crypto has to offer than what the trendsetters behave. While the LEA alternative coin is gaining a lot of favour from investors, the developers of LEA should look at a number of things which might make the crypto less popular in future. The next few weeks will be as critical to LEA altcoin as they will be for the major ones.