In a few months, Litecoin (LTC) will probably be nominated as the most disappointing top altcoin of the year. Contrary to the expectations of LTC adepts who had been preaching about the inevitable rise of Digital Silver after the halving, things have gone sour for the former 4th cryptocurrency as it has been knocked down to the 10th spot, and its market capitalization trimmed to $3,1 billion, and now has Crypto.com Coin (CRO) stepping on its toes. Given how bearish the first half of September has been for the cryptocurrency market in general, as it tanked by 20% across the board, and how DeFi currencies like Polkadot (DOT) are forcing their way into the cryptocurrency elite, traders are likely to see Litecoin on the wrong side of top 20 by the end of the year.
The bears are dominating the Litecoin market
A sub-par performance of Litecoin continued into the fall as the altcoin lost 17.2% in the last seven days against USD, while its losses on a yearly scale amounted to 32% against USD, 31% in the pair with Bitcoin, and 65% against ETH. It comes to show that the bearish agenda remains overwhelmingly strong in this market, and it’s unlikely to change any time soon.