Bitcoin (BTC) price has seen its fair share of highs and lows in the recent times. However, price wise Litecoin (LTC) has registered a rough year. The altcoin, meanwhile, is 51% down over the past 12 months.
It is understood that the lack of GitHub activity and planned protocol upgrades have Litecoin founder Charlie Lee to accept that 2019 has registered a historic law of all-time. With Litecoin showing its fair bit of uncertainty over the price ratio a lot investors have lost their interest in it and mulling other ways to keep their investment going on.
Even though most investors have lost interest some of them have been hoarding LTC silently.
According to CoinTelegraph, volume is the largest reason behind traders losing interest. Litecoin has lost its volume drastically and been trending down with the recent drop the lowest in past two years.
Litecoin ranks third on Nomic transparent trading volume at $80 million per day. This is 50% above Bitcoin Cash (BCH), and EOS but the figure remains 45% below the previous eleven months when there was $146 million in daily volume on average.
A number of reasons can be behind the change as the lower activity does not necessarily change into blockchain usage.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.