Litecoin has rallied up by more than 21% in the last 24 hours, and has overtaken Shiba Inu in terms of the market cap. Litecoin Continues Its Recent Strength, Observes Sharp Uptrend This past month has been very bad for much of the crypto market, as even giants like Bitcoin and Ethereum have been under fire in the period. Get 30 FREE SPINS at Punt Casino – NO DEPOSIT REQUIRED! Start Playing Now.
5 BTC + 300 Free Spins for new players & 15 BTC + 35. 000 Free Spins every month, only at mBitcasino. Play Now! The crash caused by the fall of crypto exchange FTX has been the core reason behind the poor performance of assets in the sector.
Litecoin has, however, shown much more resistance, and the crypto has even observed a rise while the rest of the market has been burning. At the time of writing, LTC’s price floats around $78, up 21% in the last 24 hours. Here is a chart that shows the trend in the value of the crypto over the last thirty days: BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? The price of the coin seems to have rapidly risen up in the last couple of days | Source: LTCUSD on TradingView As you can see in the above graph, the crash initially also caused Litecoin to take a deep plunge as its price went from more than $72 before it to less than $50 after it.
However, the crypto didn’t take too long to start putting together recovery efforts, and thus fared better than the other cryptos in the couple of weeks that followed the crash. Related Reading: New York Law Cracks Down On Bitcoin Mining In A Shady Move In the last 24 hours or so, though, LTC has taken it to another level as the crypto’s price has just rocketed up. Following this latest rapid increase, Litecoin has fully recovered from the FTX crash, and has actually far surpassed the peak observed just before it.
As a result, LTC is up by more than 50% in the last month, while the likes of Bitcoin and Ethereum are double digits into the red for the same period. In terms of the weekly returns, Litecoin has again performed amazingly, seeing an increase of almost 35%. Litecoin Overtakes Shiba Inu In Market Cap During the end of October, Litecoin was the 20th largest crypto by market cap, but the coin’s strength this month against the rest of the cryptos made it the 15th largest a couple of days back.
Related Reading: Chainlink Rallies 10% As Active Addresses Stay At 1-Year High The latest rally has naturally further boosted LTC’s position on the top crypto by market cap list, taking it from 15th to 13th. The below table shows where the coin stands among the wider market right now. Looks like LTC has a market cap of $5.
5 billion at the moment | Source: CoinMarketCap Previously, Shiba Inu had been sitting at the 13th position on the list, but now the memecoin has slipped down to 14th following Litecoin’s surge. Featured image from Kanchanara on Unsplash. com, chart from TradingView.
com Share Tweet Share Share Sign Up for Our Newsletter! For updates and exclusive offers enter your email. Sign Up I consent to my submitted data being collected and stored. Leave this field empty if you’re human: Hououin Kyouma Loves to write, enthusiastic about cryptocurrency.
Currently studying Physics at university. Related Posts Litecoin Continues To Show Strength, Overtakes Solana In Market Cap 2 days ago Binance To Ban Litecoin Transactions With MimbleWimble Upgrade 5 months ago Litecoin 10-Year Anniversary Arrives Alongside Altcoin’s Darkest Hour 1 year ago Damage Control: Litecoin Creator Charlie Lee On Fake Walmart News, “We Really Screwed Up” 1 year ago Breaking: Walmart Denies Litecoin Payments Rumours 1 year ago “Technically Flawless” Litecoin Could Lead To “Biblical” Bullish Move 1 year ago.
From: bitcoinist
URL: https://bitcoinist.com/litecoin-rockets-up-26-24-hour-shiba-inu-market-cap/
