Assessing Litecoin’s bounce, social supremacy, and everything in between

ambcrypto.com:

Litecoin [LTC] separated itself from the broader market fall after the Fed decision ended in an interest rate increase. The decision may have negatively affected Bitcoin [BTC] , and several others, but LTC was able to pick out a 13.78% uptick as its own repercussion.

How much are 1,10,100 LTCs worth today?

Usually, a circumstance like this would have been a result of a notable development around a project. However, this was not the case with the native cryptocurrency of the low-cost blockchain payment network.

Regardless of its silence with upgrades, LunarCrush reported that no other coin matched up to LTC in terms of social and market activity. At press time, social engagements peaked at 29,819,175 while mentions were at 4,467.

Source: LunarCrush

Being at the top of the standings means that LTC had an excellent status as per its financials, community, and market metrics. It also infers that investors considered the coin as a promising one in the short term. 

Although LTC may have obtained investors’ confidence and outperformed BTC, the next line of action might be to take caution. This was due to the on-chain condition as displayed by the Market Value to Realized Value (MVRV) ratio.

The metric functions as an outstanding indicator to spot market tops and bottoms through halving cycles . It also tells when an asset is undervalued or otherwise. At press time, the 365-day MVRV ratio was 25.95%. 

Long-term holders might be considerably unperturbed by this position since LTC was 82.56% down from its ATH. However, the metric increase might not be the same for investors looking for quick gains as this implied that LTC could be overvalued.

Furthermore, the MVRV long/short difference seemed to agree with the ratio