It appears that the list of top trading cryptocurrencies changed once again during the last seven days, as XRP dropped down to the spot of the third-largest cryptocurrency, allowing Ethereum to take its previous ranking back, and Litecoin (LTC) managed to take over the place of the 4th biggest crypto by market capitalization.
Even at its peak, Litecoin was positioned at the highest personal rank as the 5th largest digital asset in the market, however, the overall cryptocurrency crisis and the sudden weekly surge of over 30% at one point, pushed the crypto towards a more benevolent ranking.
Litecoin (LTC) Ranked as the 4th-Largest Cryptocurrency
With over 2.6 billion dollars in market capitalization, Litecoin took over the spot of the 4th biggest digital asset, however, EOS (EOS) is trading near LTC as around this time during the last year when EOS took over LTC’s place and sent it down to a lower ranking as the 6th largest currency in the market.
EOS is once again able to push LTC out as the crypto is trading up by 16% in the course of the last seven days, “only” around 70 million dollars away from getting past the market cap of Litecoin.
However, Litecoin appears to be one of the top trading cryptos on the list of top 10 cryptocurrencies as LTC is currently showing 29% up against the fiat in the last week, at one point touching 32% on the weekly list.
On the other hand, EOS is showing a daily progress as well, going up by 1.45% in the last 24 hours, while Litecoin lost nearly -8% within the same timeframe, risking to lose its newly acquired rank to EOS once again.
Charlie Lee is Planning on Adding Confidential Transactions to Litecoin (LTC)
In the meanwhile, Charlie Lee, the founder and CEO of LTC and Litecoin foundation, the startup behind the first Bitcoin hard fork, announced at the end on January in one of his official posts on Twitter, that the team is planning on making Litecoin more “fungible”.
As Charlie Lee described in the initial tweet, fungibility is “what sound money needs” and what Bitcoin and Litecoin are lacking, which is why he decided to start a new battleground on the matter of fungibility and privacy.
In order to support the described idea, Charlie Lee stated that he is focused on making Litecoin more fungible with Confidential Transactions.
Moreover, the team behind Litecoin on the head with Charlie Lee is preparing tests for the upcoming upgrades that should bring some changes to the Litecoin network.
As Charlie Lee stated in one of his latest tweets published on February 11th, once the team would create a solid plan, they would write a Litecoin Improvement Proposal and submit it to the community for an open debate.
On February 11th, after the daily loss of -7.7% against the fiat, Litecoin is still trading above the value of 40$, trading at 43$ per one LTC.
Image Credit: BitcoinExchangeGuide
