Litecoin’s continued energy in current days has seen the coin turn into the fifteenth largest crypto by market cap, unseating Solana from the spot.
Litecoin Observes Sturdy Week, Positive aspects Over 9% Throughout The Interval
The final couple of weeks have been horrible for many of the crypto market, because the crash triggered by FTX’s collapse has resulted in double digital losses for a lot of the sector.
Litecoin, nonetheless, has been completely different. Whereas the preliminary plunge did have an effect on LTC as properly, the crypto has made a a lot better restoration than the opposite prime cryptos.
Through the crash, LTC’s value dropped all the way down to as little as lower than $50 (from a peak larger than $70 earlier than the plummet), however the crypto has already retraced again above $60.
On the time of writing, Litecoin is buying and selling round $61.8, up 0.5% within the final 24 hours. Right here’s a chart that reveals the pattern within the crypto’s worth over the past thirty days:
Seems just like the coin has loved an general upwards trajectory on this interval | Supply: LTCUSD on TradingView
As you’ll be able to see within the above graph, Litecoin has registered optimistic beneficial properties through the previous month, rising up by greater than 20%.
These returns are higher than many of the different cryptos. For comparability, Bitcoin is down 15% throughout the identical interval, whereas Ethereum is 12% into the pink.
When it comes to the weekly earnings, LTC has jumped by nearly 9%, which is once more a lot better than the vast majority of the market.
Additionally, whereas the opposite cash have noticed one other plunge up to now day, Litecoin has maintained surprisingly properly thus far.
LTC Pushes Down SOL To Take #15 Spot On Crypto Market Cap Listing
Because of the energy that Litecoin has proven lately, the crypto’s place within the wider market has improved lots.
Under is a desk that reveals how LTC ranks up towards the others within the prime crypto listing.
The #12-#16 spots on the highest crypto listing | Supply: CoinMarketCap
Right here, the standards for rating the cash is the “market cap,” a measure of the whole value of a complete crypto’s provide.
It looks like Litecoin is now the fifteenth largest asset within the sector, boasting a complete market cap of round $4.4 billion at the moment.
It is a vital leap from the crypto’s place through the finish of October, the place it occupied the twentieth place on the listing.
The leap to the fifteenth spot has come on the expense of Solana, who has now dropped all the way down to sixteenth. This isn’t solely as a consequence of LTC’s energy, but additionally due to SOL’s weak spot recently because the coin has dropped by 13% within the final week.
Featured picture from Michael Förtsch on Unsplash.com, chart from TradingView.com
