“The year of overthrow” would certainly be an accurate theme that describes this year’s market pattern as more and more tokens are beginning to lose their spot to their closest rival.
While the cryptocurrency market has always been a game of “survival of the fittest”, tokens are switching positions in on a rather speedier pace and this is the current situation between EOS and LTC with one giving way for the other to thrive. In this case, EOS is stepping down for LTC, whose market capitalization is now 21 million times higher than that of EOS.
LTC’s performance so far
Litecoin LTC, now the world’s 4th most valued cryptocurrency by market capitalization has begun the day with 2.82% in gains against the USD. As trading volume continues to take an upsurge, this has led LTC to a trading price likely to break out before the close of today.
With a current trading price of $44.41, LTC has positioned itself for a bullish movement, one that began yesterday when LTC closed at a price of $46.83. Apparently, traders are not slowing down, with a total of $93.25 Million trading volume from trading pairs of LTC/BTC having been accumulated since the last 24hrs, traders from DigiFinex are heading to $100 million in the next few hours.
Following the same pattern, traders from Okex and Coinreal have taken the 2nd and 3rd spot with trading pairs of LTC/BTC birthing a volume of $91.56 million and $89.59 million respectively.
LTC Against EOS
As LTC’s volume continues to skyrocket, market cap and trading prices are expected to simultaneously follow suit and this only means that EOS will need to build its volume in order to catch up with LTC or even reclaim the 4th spot.
Litecoin Against XRP
Currently, traders have begun to speculate the possibility of LTC meeting up with XRP. Although this is not impossible to achieve, LTC will still need to cross over to the $3 billion level to maintain the 4th spot. Seeing that this could take a while to achieve, LTC’s market cap is still in its infancy, so much so that pitting it against XRP’s which is nearly 10 times higher than LTC is as unrealistic as it is unattainable.