Litecoin leaves the top 5 cryptocurrencies by capitalization

The market has revived today and the top five cryptocurrencies by capitalization are showing strong growth. EOS grew the most, replacing Litecoin in the top five.

Despite the fact that the Litecoin rate today has increased by 2.93%, and capitalization has increased to $6567 billion, the coin has dropped to sixth place in the top cryptocurrency in terms of capitalization. LTC was previously ranked fifth. It is unclear whether this trend will continue or whether the altcoin will fall in price during the European and American trading sessions.

Despite Litecoin’s attempts to maintain its position, it has been plagued by a series of setbacks lately. The reason for investors' disappointment may be hidden in the abandonment of Litecoin by its developer Charlie Lee. He himself reported this on Reddit late last year. However, the programmer noted that he was not going to abandon the project.

In addition, last month the reputation of the coin was damaged by the cancellation of the launch of LitePay and the freezing of its debit card. 

The Litecoin Foundation and Charlie Lee continue to promote the coin. At the beginning of the month, a partnership agreement was signed with Aliant Payment Systems. Yesterday there was a statement that the TenX platform had added LTC to its wallets. In addition, the parties plan to launch a debit card. The company announced the addition of LTC support to the TenX wallet for iOS and Android. TenX is a decentralized platform that allows you to combine a debit card, an electronic wallet, constant access to an ATM and other functions. 

Investor opinion is divided and some consider the latest events fatal for Litecoin, while another part of users hopes for strengthening the reputation and stability of the currency.