Litecoin (LTC) Ousts Solana to Reclaim Top 10 Spot

Godfrey Benjamin
July 1, 2023
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Litecoin LTC

Litecoin (LTC) has inked an impressive daily and weekly price growth amid a very fluid market volatility being experienced today. The Layer-1 Proof-of-Work (PoW) protocol has regained its spot in the top 9 of digital currencies, displacing Solana (SOL) to achieve the feat.

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The Litecoin Bullish Run

Litecoin has been one of the most aggressive cryptocurrencies in terms of price surge this week. At the time of writing, the digital currency is valued at a price of $108.67 after an unprecedented growth of 28.93%. Breaching the $100 price level is a milestone in itself seeing the coin has not tested this level since April this year.

The recent growth push has given Litecoin a defined impetus on the weekly front. Per data from CoinMarketCap, the cryptocurrency is up 18.53% as the current growth momentum has helped it pare off the losses accrued within that time span.

Litecoin has recorded a number of unique milestones over the past few days. Besides recording more than 2 million transactions in the past week, Litecoin has also seen a steady growth in its mining difficulty which soared to a new All-Time High (ATH) of 26.38 M at block height 2,500,802.

The resilience of the coin is currently being complemented by the protocol’s deep liquidity which according to Kaiko’s ranking has helped placed LTC in the fifth position. Per the depth/volume metrics, Litecoin now lags behind only Bitcoin (BTC), Ethereum (ETH), XRP and Dogecoin (DOGE).

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Potential Future Push

With Litecoin now reclaiming its spot as a top 10 cryptocurrency, the emphasis first remains in staying on this lane, then pushing forth to new highs. The coin has a number of positive fundamentals to look forward to, chief of whom is its upcoming halving event.

The Litecoin halving is slated to take place in August, a time when the rewards distributed to the miners on the network will be slashed by half. This event is ultimately designed to reduce the supply of the coin, thus helping to fuel its valuation in the long term.

Litecoin has also earned a good spot as a payment token with different integrations and partnerships to show for it.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.