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Litecoin Becomes the 12th Largest Crypto! The Underdog is Rising

Here’s how Litecoin rose 9% in 24 hours to become the 12th largest cryptocurrency

Litecoin has risen to the 12th largest cryptocurrency in the market following a 9% increase in the last 24 hours, according to data. Litecoin maintains its bullish momentum, gaining 15% in the last week. Much of the crypto market has been in the green over the last week, with many top coins posting double-digit gains. 

LTC, which was already outperforming the others, has followed suit. The last 24 hours have been particularly good for Litecoin, with the cryptocurrency rising by 9%. The coin’s price has now risen to around $83.1 as a result of this increase. The following chart depicts the trend in the value of LTC over the last month: As shown in the graph above, LTC crashed along with the rest of the crypto market during the first third of November as the FTX exchange went down. However, in the final days of the month, Litecoin quickly recovered and surpassed its pre-crash high.

LTC’s strength over the last month has been extraordinary, given that even giants like Bitcoin and Ethereum are still suffering from double-digit losses as a result of the crash. Litecoin has made a total profit of 23% in the last 30 days. LTC’s weekly performance has increased by more than 15%. LTC is now the 12th largest cryptocurrency by market capitalization. LTC has steadily risen in the top crypto-list over the last month, owing to its strong performance during a period when its competitors have declined. The list is based on “market cap,” which is a measure of the total worth of a cryptocurrency’s entire circulating supply. The table below shows where Litecoin ranks in terms of market capitalization.

Litecoin was only 20th on this list at the end of October, but in less than a month, the coin has jumped 8 spots. Polkadot is the coin just above LTC right now, and while it has seen some decent returns recently, they have still been lower than LTC’s. If the crypto maintains its recent momentum, it could surpass DOT in the coming days and challenge for a spot among the top ten.