• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit

Litecoin Continues To Slide, Now Below Shiba Inu In Market Cap

Hououin Kyouma by Hououin Kyouma
3 months ago
in Litecoin
Reading Time: 3 mins read
Advertisement

Litecoin has been having a hard time recently, and it would appear that its struggles haven’t stopped yet as the coin has now dropped below Shiba Inu in terms of market cap.

Litecoin Has Taken A 15% Beating During The Past Week

While the last week has been red for most of the coins in the crypto market as the FUD due to the controversy around Binance’s Proof-of-Reserves has spread, LTC has taken an especially hard hit during the period.

At the time of writing, Litecoin is trading around $63, down 1% in the last 24 hours. Here is a chart that shows how the price of the asset has changed in the last five days:

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Litecoin Price Chart

The value of the crypto seems to have gone down recently | Source: LTCUSD on TradingView

As the above graph displays, it was only a few days ago that Litecoin was still above the $75 level. The coin had been consolidating between this level and $80 since the last week of November, but now this sideways trend seems to have fully broken down as the coin has rapidly dropped in value during the last few days.

Related Reading: Bitcoin Price Prints Bearish Technical Pattern, Why It Could Continue Lower

The asset has now lost the $65 level, which means it has almost entirely retraced the gains of the 22 November rally. As it currently stands, LTC is down almost 15% during the past week. For comparison, Bitcoin and Ethereum are only down 1% and 4%, respectively, in the same period.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

In terms of monthly returns, Litecoin holders are still in a profit of about 2%. The coin is still in the green for this period thanks to the strong November rally, which some thought would lead to a pre-halving bull run for the coin, as its halving, an event where its block production rate will be cut in half, is scheduled for next year. As it turns out, this rally wasn’t what some believed it would be, since LTC has already lost most of its gains.

LTC Is Now Below Shiba Inu (SHIB) In Market Cap

As a result of Litecoin’s recent sharp downtrend, the cryptocurrency’s market cap has rapidly gone down. Since its competitors haven’t seen losses to such a degree, LTC’s market cap has seen a relatively sharper decline, leading to it dropping spots on the top cryptocurrency list based on market cap.

Related Reading: Stablecoins Flow Into Spot Exchanges, Fuel For Christmas Bitcoin Rally?

The below table shows where the asset stands in the wider crypto market at the moment.

Litecoin vs Shiba Inu Market Cap

Looks like LTC is now only the 15th largest coin in the sector | Source: CoinMarketCap

Litecoin had recently dropped to 14th on this list, but its continued decline has meant that it has now lost the spot to meme coin Shiba Inu.

Featured image from Unsplash.com, chart from TradingView.com
Tags: LitecoinLitecoin DeclineLitecoin Market Capltcltc/usdSHIBShiba InuShiba Inu Market CapSHIBUSD
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Litecoin Surges 13% In Last 24 Hours, Flips Shiba Inu In Market Cap

Litecoin Surges 13% In Last 24 Hours, Flips Shiba Inu In Market Cap

6 days ago
Litecoin

Here’s What To Expect From Litecoin As Bulls Eye $100

4 weeks ago
Litecoin

Litecoin Sets Eye On $107, But It Needs To Cross This Major Hurdle

2 months ago
Major Reasons For 80% Of Litecoin Growth, Details

Data Reveals Reasons Behind Litecoin’s 80% Rally

2 months ago
Litecoin (LTC)

Data Suggests Sharks Were Behind Litecoin’s 89% Rise To $97, But What About Now?

2 months ago
Litecoin

Is Litecoin (LTC) Expecting A Pullback Before Soaring Again?

2 months ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Decentraland and The Sandbox Dominating GameFi Industry – Will Avorak AI Live Up To The AI Crypto Hype?

March 28, 2023

TMS Network (TMSN) Has Exploded 1000% With Stage 2 Presale, Injective (INJ) Sees an Increase of 10.5%, Conflux (CFX) Increases by 41.2%

March 28, 2023

Augmented Reality metaverse platform, OVER takes center stage at Metaverse Fashion Week 2023

March 28, 2023

Best Crypto Reviewed April 2023: 5 Cryptocurrencies to Invest in

March 27, 2023

Metacade Crypto Presale Brought In 14.1m in Just 18 Weeks and Is About to End. Don’t Miss Out on This Presale Event!

March 27, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.