Litecoin’s continued energy in current days has seen the coin turn out to be the fifteenth largest crypto by market cap, unseating Solana from the spot.
Litecoin Observes Robust Week, Beneficial properties 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 effectively, the crypto has made a significantly better restoration than the opposite high cryptos.
Throughout the crash, LTC’s value dropped all the way down to as little as lower than $50 (from a peak greater 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 exhibits the pattern within the crypto’s worth over the last thirty days:
Appears just like the coin has loved an general upwards trajectory on this interval | Supply: LTCUSD on TradingView
As you may see within the above graph, Litecoin has registered optimistic positive factors in the course of 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 virtually 9%, which is once more significantly better than the vast majority of the market.
Additionally, whereas the opposite cash have noticed one other plunge previously day, Litecoin has maintained surprisingly effectively up to now.
LTC Pushes Down SOL To Take #15 Spot On Crypto Market Cap Checklist
Because of the energy that Litecoin has proven just lately, the crypto’s place within the wider market has improved loads.
Under is a desk that exhibits how LTC ranks up in opposition to the others within the high crypto checklist.
The #12-#16 spots on the highest crypto checklist | Supply: CoinMarketCap
Right here, the standards for rating the cash is the “market cap,” a measure of the entire value of a whole crypto’s provide.
It looks as if 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 soar from the crypto’s place in the course of the finish of October, the place it occupied the twentieth place on the checklist.
The soar 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 point recently because the coin has dropped by 13% within the final week.
Featured picture from Michael Förtsch on Unsplash.com, chart from TradingView.com