Over the past few days, the Litecoin market has been very volatile, with rising and then rapidly falling values. After it was not possible to hold the $ 52 mark, the LTC price came under strong selling pressure. The market capitalization of the cryptocurrency is about $ 3.5 billion, and the 24-hour trading volume is $ 113 million, according to Coingecko.
Apart from its functionality, LTC is currently of little use to investors, as it does not bring significant returns to its holders. The return on investment of the altcoin has fallen sharply over the past year, as a result of which most of the statistics fall into the red.
Moreover, of the millions of investors who buy LTC, only a few hundred thousand remain profitable. These investors have purchased their holdings at a price that is below the current market value of the altcoin. These investors account for only 13%.
Since the market value of Litecoin is also at a historical low, it is not surprising that new investors are avoiding the asset.