Litecoin bucked the market downtrend, posting 19% gains over the past week to lead the top 100.
Price performance over the last 24 hours has seen LTC record 13.7% gains to $70.10 from $61.53 at the time of press. The majority of today’s gains resulted from a 9.6% upside swing on the 13:00 (UTC) candle.
Source: LTCUSDT on TradingView.com
As a result, Litecoin continues climbing higher on the market cap rankings. Excluding stablecoins, this positions LTC in the top 10 to rank 9th, leapfrogging Shiba Inu in the process.
“Boring” Litecoin offers stability
CryptoSlate reported that Litecoin’s resurgence is likely due to the market seeking stability amid the FTX fallout.
Since FTX began showing signs of insolvency, market cap outflows have totaled $228 billion, leading to tanking token prices. Especially in respect of FTX-affiliated projects, including FTT and SOL, with the former now languishing outside the top 200.
Commenting on the chaotic market conditions of late, the Managing D
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