Litecoin Price Shows the Second Smallest Gain in the Past Week
Though the week so far have been quite green for the top 10 coins by market capitalization, not all coins appreciated equally. One of the 10 to see the smallest rise is Litecoin (LTC).
At UTC 9:10, all top 10 coins are showing a rise in the last-7-days period. While XRP and BNB have both appreciated just above 10%, LTC is in the second place – but from the bottom. It has risen 4.4%, and the only coin to have seen a smaller rise this past week is BTC (3%). However, Stellar is quite close to LTC, with its 4.7%.
LTC appreciated more than 2% in the past 24 hours as well, now trading at almost USD 59. The last seven days were relatively unsteady. They show a dip on October 7th, when the price was USD 54, followed by a jump to USD 58.6 the very same day. The price fell somewhat before jumping again between October 9th and 10th to its highest price in the last seven days, USD 59.75.
Litecoin price chart:
The 30-day period, however, shows a similar picture to many other coins that rallied in mid-September, with LTC’s price rising as well and reaching USD 78 on September 18th, only to drop 32% by the end of the month. The last three months show a somewhat clearer overall picture, with a relatively steady decline, save for the mentioned peaks, from mid-July when the price was at USD 105.
Now zooming out to a one-year period, we see that the decline actually started on June 22nd when the price climbed to its highest point in the past year, USD 141. However, luckily for LTC, the price is far from its lowest in that time period, given that it hit USD 23 in December last year.
Litecoin hasn't made many announcements recently, which is not to say that they are not working on many things behind the scenes, just that they were somewhat quiet lately. The latest announcements on the Litecoin Foundation blog are from September, the last one saying that a nonprofit, Code.org, will join the 2019 Litecoin Summit. Their twitter account is also focused, so to say, on this upcoming Summit, which will be held in Las Vegas this month.
Nonetheless, on October 7th when LTC saw a jump in price, people also took notice of a tweet by a director of Litecoin Foundation and a developer of Litecoin Core, XinXi Wang:
Besides updates on the summit, Lee himself also tweeted out, at the very end of September, about the score 1 given to LTC by the Crypto Rating Council (CRC), which means they find it not to be a security. As a reminder, the CRC was formed just recently by the U.S.'s biggest crypto exchanges in order to rate which digital assets are probably securities that can't be traded on their venues, and which are likely not.