The curiosity in cryptocurrencies continues to wane in 2022, as does Litecoin’s reputation. The buying and selling quantity of Litecoin was eight instances decrease within the first quarter of 2022 than it was within the first quarter of 2021.
For instance, the buying and selling quantity from January to March 2022 was round $82 billion, 87% lower than in Q1 2021. Within the first quarter of 2021, the buying and selling quantity was $674.9 billion. Litecoin (LTC) buying and selling quantity crashed by greater than $590 billion in quarterly comparability.
Associated Studying | ApeCoin (APE) Is Now The Largest Metaverse Token, Edging AXS, MANA, SAND
The sharp decline in Litecoin’s worth outcomes from the detrimental crypto market sentiment. The value dropped 70% from its highest level, $412, attained again in Could 2021.
The preferred stablecoin pair for Litecoin’s native LTC was the United State Greenback Tether (USDT) within the first quarter of 2022.
Litecoin Month Clever Comparability Of Buying and selling Quantity
January 2021 was the month of Litecoin, with a buying and selling quantity of $284.52 billion. LTC hit a single-day excessive of $17.99 billion. However in January 2022, LTC buying and selling quantity dropped by 89%. The coin’s roughly buying and selling quantity was $31.48 billion, with a single-day excessive of $2.09 billion.
Equally, February 2021 additionally carried out properly. The buying and selling quantity of Litecoin reached round $257.49 billion, with a single-day excessive of $16.57 billion. Nevertheless, in February 2022, the coin efficiency dropped by 90% in comparison with Feb 2021. Because of this, the single-day excessive of Feb 2022 was $1.68 billion.
Litecoin noticed a decline in buying and selling quantity in March 2021 in comparison with January and February 2021. The whole buying and selling quantity for March was $132.91 billion, with a single-day excessive of $8.08 billion. LTC buying and selling quantity was $24.98 for March 2022 with a single-day excessive of $1.35 billion, 81% lower than March 2021.
On January 1, 2022, Litecoin opened at $146.54. On January 2, the coin reached its quarterly excessive of $152.94. The closing of the primary quarter was $123.72. General a 15% lower in Litecoin’s opening and shutting worth in Q1 2022.
Associated Studying | Dogecoin Plummets As Buyers’ Doubts After Musk Twitter Takeover Unfold
For comparability functions, on January 1, 2021, Litecoin opened at $124.67 per coin. On Feb 20, LTC reached its quarterly excessive of $245.96. The closing of the primary quarter of 2021 was at $197.5. Litecoin carried out properly throughout the first quarter with a 58% spike.
LTC $100 Assist Is Underneath Assault
Litecoin has been buying and selling down for a lot of the previous yr. In November, LTC was beneath $300 after it couldn’t keep above that stage. The coin has been testing the $100 stage since January. Nevertheless, the general sentiment within the crypto market continues to be bearish. This cryptocurrency has been making decrease highs, which is a nasty signal, however the $100 assist zone continues to be holding.
There was a spike in exercise in wallets holding greater than $100k per week in the past. That didn’t trigger the worth of Litecoin to go up, although. As a substitute, it stayed bearish and saved happening. Yesterday, the sellers failed to interrupt beneath the $100 assist stage. That was an excellent signal. However as we speak, the strain continues to be bearish, so the digital asset may see a breakout to the draw back.
Featured picture from Pixabay and chart from Tradingview.com