Litecoin was one of the first forks of Bitcoin.
Its creator, Charlie Lee, was a former Google employee.
The reason Litecoin has value is because it’s very useful and scarce, just like Bitcoin.
Only 84 million LTC will ever exist, which creates the scarcity. Litecoin is also very useful because it can be sent anywhere in the world instantly for very low fees.
Litecoin already had 4x the transaction capacity of Bitcoin, and with Segwit activated it now has 8x more capacity than Bitcoin and potentially more.
Litecoin is also slightly faster than Bitcoin since blocks are created on average every 2.5 minutes, whereas for Bitcoin the blocks are every 10 minutes.
Ref : link