- LTC is showing signs of strength while the rest of the crypto market is struggling.
- An analyst pointed out that the price of LTC rallied quite strongly prior to its halving.
- The price of LTC stands at $88.07 after an 8.21% increase in price.
The crypto trader and analyst Rekt Capital shared a post on Twitter this morning to comment of Litecoin’s (LTC) performance over the past day. According to the post, LTC is showing signs of strength while the rest of the crypto market is struggling after a market-wide dip.
In addition to this, the analyst also added that people should keep in mind that the LTC halving will be taking place soon. So far, the halving is scheduled to happen in August of 2023.
Litecoin / US Dollar 1M (Source: Rekt Capital)
Rekt Capital pointed out that the price of LTC has historically rallied quite strongly prior to its halving. Before its first halving, LTC bottomed 122 days and rallied 820%. Before its second halving, the altcoin followed a similar trend as LTC bottomed 243 days and rallied 550%.
LTC / Tether US 1D (Source: TradingView)
CoinMarketCap indicates that LTC is currently trading hands at $88.07 after an 8.21% increase in price over the last 24 hours. The altcoin was also able to reach a high of $88.46 and a low of $79.95 over the same time period.
LTC’s weekly performance is also still looking good as the altcoin is up by more than 12% over the last week. The crypto’s 24-hour trading volume currently stands at $1,118,236,228 after a more than 100% increase since yesterday.
With its market cap of $6,380,486,748, LTC is currently ranked as the 13th biggest crypto in terms of market capitalization. This places it right in between Polkadot (DOT) in the 12th position and Shiba Inu (SHIB) which is ranked as 14th.
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