• Litecoin ranks #4 in terms of liquidity as per a new report from Kaiko
• LTC’s social dominance also witnessed a surge over the last few days
• Data from Santiment and Kaiko showed that LTC had a marketcap drop but its social presence increased
Litecoin Ranks #4 in Liquidity
A new report from Kaiko has revealed that Litecoin (LTC) ranks #4 in terms of liquidity. Since the beginning of Q2, the altcoin has had positive developments, with an overall green performance. Additionally, LTC’s social dominance also witnessed a surge over the last few days.
Data from Kaiko’s Q1 report showed that LTC managed to rank #4 in terms of volume, while taking the #11 spot in terms of market cap. However, data from Santiment revealed that LTC’s volume had dropped gradually over the past seven days; this could be seen as a sign of lower LTC liquidity. Despite this drop in market cap, LTC’s social dominance surged over the same time period which could mean that investors and traders maintained positive view towards it.
Current Price and Performance
At press time, LTC was exchanging hands at $90.49 and its Relative Strength Index (RSI) stood at 52.51 going towards the neutral 50 line. The Moving Average Convergence Divergence (MACD) indicator showed that it was still bearishly inclined even though there were signs of bullish momentum coming into play for LTC.
It is important to note that any investment carries risk and investors should do their own research before investing any funds into crypto assets or digital currencies. Furthermore, as with any asset class, prices are subject to volatility and can go up or down significantly depending on various factors such as regulations, political events etc., thus investors should exercise caution when investing into cryptocurrencies or digital assets.
Overall, it can be said that even though Litecoin’s marketcap has seen some drops lately due to low volumes and other factors, its overall performance has been fairly positive since early 2021 and its social presence continues to remain strong among investors and traders alike.