Litecoin Drops 87% Trading Volume In Q1 2022

The interest in cryptocurrencies continues to wane in 2022, as does Litecoin’s popularity. The trading volume of Litecoin was eight times lower in the first quarter of 2022 than it was in the first quarter of 2021. For example, the trading volume from January to March 2022 was around $82 billion, 87% less than in Q1 2021. In the first quarter of 2021, the trading volume was $674.9 billion. Litecoin (LTC) trading volume crashed by more than $590 billion in quarterly comparison. Related Reading | ApeCoin (APE) Is Now The Biggest Metaverse Token, Edging AXS, MANA, SAND The sharp decline in Litecoin’s value results from the negative crypto market sentiment. The price dropped 70% from its highest point, $412, attained back in May 2021. The most popular stablecoin pair for Litecoin’s native LTC was the United State Dollar Tether (USDT) in the first quarter of 2022. Litecoin Month Wise Comparison Of Trading Volume January 2021 was the month of Litecoin, with a trading volume of $284.52 billion. LTC hit a single-day high of $17.99 billion. But in January 2022, LTC trading volume dropped by 89%. The coin’s approximately trading volume was $31.48 billion, with a single-day high of $2.09 billion. Similarly, February 2021 also performed well. The trading volume of Litecoin reached around $257.49 billion, with a single-day high of $16.57 billion. However, in February 2022, the coin performance dropped by 90% compared to Fe...