Litecoin Rockets Up 21% In Last 24 Hours, Flips Shiba Inu In Market Cap | Bitcoinist.com

Bitcoinist

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.

How To Get Free Crypto  
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.

Coinbase Banner  

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.

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.

FreeBitcoin Banner  

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.

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

Go to Source
Author: Hououin Kyouma


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.