Litecoin’s continued energy in latest days has seen the coin change into the fifteenth largest crypto by market cap, unseating Solana from the spot.
Litecoin Observes Robust Week, Features Over 9% Throughout The Interval
The final couple of weeks have been horrible for a lot 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 totally different. Whereas the preliminary plunge did have an effect on LTC as nicely, the crypto has made a significantly better restoration than the opposite prime cryptos.
Throughout the crash, LTC’s worth dropped all the way down to as little as lower than $50 (from a peak increased 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 development within the crypto’s worth over the last thirty days:
Seems just like the coin has loved an general upwards trajectory on this interval | Supply: LTCUSD on TradingView
As you possibly can see within the above graph, Litecoin has registered optimistic features throughout the previous month, rising up by greater than 20%.
These returns are higher than a lot of the different cryptos. For comparability, Bitcoin is down 15% throughout the identical interval, whereas Ethereum is 12% into the purple.
When it comes to the weekly income, LTC has jumped by nearly 9%, which is once more significantly 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 nicely to date.
LTC Pushes Down SOL To Take #15 Spot On Crypto Market Cap Checklist
Because of the energy that Litecoin has proven 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 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 overall value of a complete 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 present.
It is a vital bounce from the crypto’s place throughout the finish of October, the place it occupied the twentieth place on the listing.
The bounce 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 on account 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