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Litecoin(LTC) falls from 5th position to 7th position

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Litecoin (LTC) a digital peer to peer cryptocurrency, provides its users with instant and almost negligible transaction fees anywhere around the world has fallen to the 7th possession from 5th largest cryptocurrency in global market positions.

Litecoin is overtaken by Cardano (ADA) and EOS(EOS) by a huge margin. Cardano (ADA) moved ahead of Litecoin(LTC) as it crossed the $9 billion market capitalization. EOS has moved up a long way and seen its all-time high last week.

As of 30th April 2018, Litecoin (LTC) is trading at $151.27 and has decreased by about 1.95{7ac5c3bf57b95c89d20da1c585f68f2fe47644be0187dccece42864a092023b1} in the 24 hours. Litecoins daily trade volume in the last 24 hours is around $3billion and the market cap is $8 billion. In this week alone Litecoins daily trade volume has almost doubled.

Litecoin was released as an open source software project under the MIT/X11 license and is worldwide decentralized payment network which is just like Bitcoin and has no central authorities who cannot control or stop it.

In December 2017, Litecoin’s founder Charlie Lee had donated his entire Litecoin shares which were done to prove that his involvement in Litecoin was not for his personal financial gains.

In a interview on Youtube Charlie Lee stated “I still think that it was the right move at the time but I question whether I had thought about it in the long run it was the right move but in the short term while the price is down, below the all-time high, it just feels that it was not the right decision to make and I think five years down the road, when the price is back to the all-time high and I will feel like it was the right move.”

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