• Litecoin has outperformed its peers in the crypto winter, down by 56.9% over the past year.
• Data from Santiment shows that Litecoin has maintained a high resilience when compared to Bitcoin.
• The blockchain network powering Litecoun has never been down for 11 years and is trusted as a viable payment alternative.
Litecoin (LTC) is one of the oldest and most used digital currencies in the blockchain ecosystem, yet it remains an undervalued asset. Despite the crypto winter that has seen a dramatic drop in the value of most cryptocurrencies, Litecoin has managed to remain resilient and is still viewed as a viable payment alternative.
Data from CoinMarketCap shows that Litecoin is currently trading at $67.10, a 56.9% decrease from the year prior. This is comparatively better to Bitcoin (BTC) which has seen a 67.3% drop to $16,614.64 and Ethereum (ETH) and XRP (XRP) which have seen a 70.5% and 61.5% drop respectively to $1,192.83 and $0.357658.
The resilience of Litecoin can be attributed to the blockchain network powering it, which has never been down in its 11 years of existence. This has added to the trust in it as a viable payment alternative. Data from Santiment, a crypto price analytics service provider, also shows that Litecoin has maintained 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.
In addition to its resilience, Litecoin has also been integrated by some of the top e-commerce and fintech service providers. This has allowed the coin to remain among the most used cryptocurrencies, despite the crypto winter.
Overall, Litecoin appears to have come out of the crypto winter relatively unscathed, outperforming its peers in a time of crisis. This is attributed to the blockchain network powering the coin which has never been down in its 11 years of existence, and the trust in it as a viable payment alternative. Additionally, the coin has been integrated by some of the top e-commerce and fintech service providers, allowing it to remain among the most used cryptocurrencies.