Litecoin Ranks #4 in Liquidity – How Is LTC Doing Today?

• Litecoin (LTC) ranked fourth in liquidity according to a report from Kaiko.
• The altcoin also witnessed a surge in social dominance over the last few days.
• Despite its positive performance, data from Santiment showed that Litecoin’s market cap had dropped and its volume had decreased since the beginning of April.

Litecoin Ranks 4th In Liquidity

A recent study conducted by Kaiko found that Litecoin (LTC) ranked fourth in terms of liquidity among crypto assets. This placed the coin at number four after Dogecoin [DOGE]. Additionally, LTC’s social dominance has seen an increase over the past few days.

LTC Performance Since 2023

Since the start of 2023, LTC has been performing well and managed to stay in green for most of the time. At the time of writing, LTC was exchanging hands at $90.49 with a Relative Strength Index (RSI) of 52.51 and was seen in a free fall going towards the neutral 50 line. The Moving Average Convergence Divergence (MACD) indicator on LTC’s daily chart also showed a bearish crossover at press time as per data from TradingView.

Market Cap & Volume Drops

Data from Santiment showed that despite its positive sentiment, LTC’s market cap had dropped since the beginning of April and its volume had decreased over seven days prior to press time. This could potentially be taken as sign of lower liquidity in the market for LTC; however, this was seemingly offset by investors‘ positive outlook towards it.

Profit Calculator

In order to monitor their profits or losses on their investments related to Litecoin, investors can use profit calculators available online such as CoinMarketCap’s Profit/Loss Calculator which utilizes current prices and user-defined values.

Conclusion

Overall, Litecoin has been performing decently with respect to liquidity and social dominance over recent weeks despite some slight drops in both market cap and volume recently. Investors should continue to keep an eye on updates regarding these metrics as they may help inform decisions regarding investment strategies with regard to this cryptocurrency asset.