Litecoin Drops to Make Way for EOS (EOS) and Bitcoin Cash (BCH)
The market is definitely seen in a major turmoil as it appears that the dips from November only went ahead to mark December with bearish trends as well. The state in the market is such that it doesn’t allow the toppers to rise back up against the fiat, having the cryptos touching new lows from day to day.
There are only several exceptions in the crypto market and in the case of the top ten trading currencies; this honor belongs to the latest fork of Bitcoin Cash, Bitcoin SV (BSV).
Bitcoin SV seems to be doing rather well, as BSV is the only cryptocurrency among the top ten that made quite a movement in the market to reach the spot of the 5th largest crypto in the market, while Bitcoin Cash went down to take the seventh place.
Litecoin once occupied to the rank of the 5th largest currency, where it remained for a long time, however, at the end of the first quarter of 2018 EOS went past LTC by its market cap to sink it one spot down on the list of top trading cryptos.
LTC didn’t stop there with the unforgiving dips, still dropping to touch new lows.
Litecoin Hits another Low: LTC Sinks to the Spot of the 9th Largest Cryptocurrency
9th largest crypto is a rather flattering title, but probably not in the case if the given crypto came there from a higher ranking, as it is the case with Litecoin.
Since the market is dropping at an accelerated rate, having billions of dollars in the overall cryptocurrency capitalization losing billions, Litecoin is going down as well.
Only in the period of a single week had LTC lost over -21% of its value, still dipping on a daily basis, which drove Litecoin to its new low of under 30$.
Litecoin is now traded at the price of 26$, which eventually sank it to the spot of the 9th largest cryptocurrency. Instead, EOS had a chance to go ahead of Litecoin once again, now ranked as the 8th largest crypto, where Bitcoin Cash also sank from the spot number 5 to make way for Bitcoin SV, now the 5th biggest crypto by its market cap.
While Bitcoin SV is progressing with new gains despite the overall bearish trends in the market, Litecoin might go even lower down the list, perhaps eventually leaving the list of top ten traders at this pace.
Litecoin Adoption and Integrations Have No Effect on the Price of LTC
It appears that integrations and announcements that LTC has become available on Facebook Messenger as a method of payment, also announcing support from HTC Exodus, a new phone from HTC focused on cryptocurrency technology, have no effects on the dipping Litecoin.
That is how it seems that the market trends dictating the movement in the market have more influence on the status of cryptocurrencies in the crypto market than new integrations, listings and partnerships driving cryptos to adoption.
Litecoin, although losing over half of its value in the course of a single month, marking -54% of dips, is not the only crypto suffering from major losses in the period of last 4 weeks.
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