Curiosity in cryptocurrencies will proceed to say no in 2022, as will Litecoin’s recognition. Litecoin buying and selling quantity within the first quarter of 2022 was eight occasions decrease than within the first quarter of 2021.

For instance, January-March 2022 buying and selling quantity was round $82 billion, down 87% from the primary quarter of 2021. Within the first quarter of 2021, the buying and selling quantity was $674.9 billion. Litecoin (LTC) buying and selling quantity collapsed by greater than $590 billion quarter-on-quarter.

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Litecoin’s sharp drop in worth stems from adverse crypto market sentiment. The value fell by 70% from its peak of $412 reached in Might 2021.

LTC began the day inexperienced up 1.72 and is at the moment buying and selling at $102.37 | Supply: Tradingview.com LTC/USD worth chart

The most well-liked stablecoin pair for Litecoin’s native LTC in Q1 2022 was the United State Greenback Tether (USDT).

Litecoin Month-to-month Buying and selling Quantity Comparability

January 2021 was Litecoin month with a buying and selling quantity of $284.52 billion. LTC hit a every day excessive of $17.99 billion. However in January 2022, LTC buying and selling quantity fell by 89%. The coin’s approximate buying and selling quantity was $31.48 billion, with a every day excessive of $2.09 billion.

February 2021 additionally developed effectively. Litecoin buying and selling quantity reached round $257.49 billion, with an intraday excessive of $16.57 billion. Nevertheless, in February 2022, coin efficiency decreased by 90% in comparison with February 2021. Consequently, the February 2022 one-day excessive was $1.68 billion.

Litecoin noticed a lower in buying and selling quantity in March 2021 in comparison with January and February 2021. Complete buying and selling quantity in March was $132.91 billion, with an intraday excessive of $8.08 billion. LTC buying and selling quantity in March 2022 was $24.98 with an intraday excessive of $1.35 billion, down 81% from March 2021.

On January 1, 2022, Litecoin opened at $146.54. On January 2nd, the coin reached its quarterly excessive of $152.94. The primary quarter closing worth was $123.72. General, a 15% decline in Litecoin’s opening and shutting worth within the first quarter of 2022.

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For comparability functions, Litecoin opened at $124.67 per coin on January 1, 2021. On Feb. 20, LTC touched its quarterly excessive of $245.96. The closing worth of the primary quarter of 2021 was $197.5. Litecoin carried out effectively within the first quarter, up 58%.

LTC $100 help beneath assault

Litecoin has traded within the crimson for a lot of the previous yr. In November, LTC was beneath $300 after failing to remain above this stage. The coin has been testing the $100 mark since January. Nevertheless, the general sentiment within the crypto market remains to be bearish. This cryptocurrency has made decrease highs which is a nasty signal, however the $100 help zone nonetheless holds.

Every week in the past, there was a spike in exercise in wallets with greater than $100,000. Nevertheless, that didn’t trigger Litecoin’s worth to rise. As a substitute, it remained bearish and continued decrease. Yesterday sellers failed to interrupt beneath the $100 help stage. That was a great signal. However at the moment, the stress remains to be bearish, so the digital asset might see a breakout to the draw back.

Featured picture from Pixabay and chart from Tradingview.com

, Litecoin drops 87% in buying and selling quantity within the first quarter of 2022

, Litecoin drops 87% in buying and selling quantity within the first quarter of 2022

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