Litecoin has fallen nearly 60% from last year’s peak to levels last seen in prior market cycles, as sustained selling pressure continues to weigh on the asset.
Despite the decline, new demand signals are emerging through lending and payments, suggesting Litecoin retains utility even as prices remain under pressure.
“Litecoin’s opt-in privacy layer, MWEB, set a new record for peg-ins last month,”
The Litecoin Foundation said, adding that:
“Real-world utility has been the mission since day one.”
In Japan, SBI VC Trade has expanded its Lending Coin programme to include LTC, allowing users to earn interest by lending the token alongside more than 30 other cryptocurrencies.
Data from CoinGate shows Litecoin accounts for 17.7% of all transactions on its platform, ranking behind only Bitcoin and USDC and rising from 16.4% in December.
On-chain indicators also point to accumulation, with MWEB peg-ins surpassing 400,000 LTC and suggesting growing demand for private transactions.
Meanwhile, figures from BitInfoCharts show average on-chain transaction values rising even as LTC trades near $60, a divergence that may indicate investors are accumulating during broader market weakness.
At the time of reporting, Litecoin price was $59.92.