Briefly –
- Litecoin has its market capitalization on continued declines amid market-wide bearishness.
- LTC still trades under $60
- The altcoin’s market capitalization stood around $4 billion by May end.
Litecoin was one of the crypto assets that lost over one billion dollars in market value following sharp declines amid May’s crash.
Litecoin remains among the top20 cryptos by market cap. Research by Be (In) Crypto shows LTC ended 2022’s fifth month with its market cap hovering near $4.82 billion. That translated to a 30% drop from its market capitalization early in May.
Litecoin recorded an attractive trading volume of $592.41 million on 1 May, whereas the market capitalization was around $6.98 billion.
Why Is LTC Market Cap Sinking?
Bearishness in the overall crypto marketplace contributed to Litecoin’s dwindling market cap. Factors such as rising inflation, geopolitical events, stock market plunge, plus improved interest in assets like precious metals triggered massive losses for Litecoin and its holders.
