• Litecoin (LTC) has outperformed other digital currencies such as Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) over the past year.
• The blockchain network powering Litecoin has never been down in its 11 years of existence, which adds credibility to the trust in it as a viable payment alternative.
• Data from Santiment shows that Litecoin has maintained a relatively high resilience when compared to Bitcoin, with the LTC/BTC price ratio up by 130% since June 12.
The cryptocurrency space has been in a state of flux over the past year, with prices and market volatility seeing wide fluctuations. This has been especially true for the world’s largest digital asset, Bitcoin, which has seen a sharp decline in its price and market dominance. Despite this, there are some digital assets that have managed to remain resilient, with Litecoin (LTC) being a prime example.
Litecoin is a decentralized digital asset that has been in existence for 11 years and is one of the oldest digital assets in the cryptocurrency space. Since its inception, it has been one of the most adopted integrated cryptocurrencies by top e-commerce and fintech service providers. Despite its popularity as a payment option, Litecoin has seen its price and market capitalization take a hit this year, with it being down by 56.9 percent over the past year and currently trading at $67.10.
However, data from Santiment, a crypto price analytics service provider, shows that Litecoin has managed to maintain a relatively high resilience when compared to Bitcoin. The LTC/BTC price ratio is notably up by 130% since June 12, and the Litecoin protocol just recorded the highest number of addresses holding at least 1000 LTC in their wallets. This shows that despite the bear market, investors are still interested in the digital asset and its long-term prospects.
The sustained growth of Litecoin might also be attributed to the fact that the blockchain network powering the digital currency has never been down in its 11 years of existence. This adds credibility to the trust in it as a viable payment alternative, as many digital assets in the space have suffered from network downtime and other technical issues.
Overall, Litecoin has managed to remain relatively resilient, despite the bear market that has plagued the cryptocurrency space over the past year. Its blockchain network has remained reliable, and its price ratio in comparison to Bitcoin has remained up significantly. This shows that the digital asset still has a lot of potential, and could be a good option for investors looking to diversify their portfolios.