As someone who has been watching Litecoin for a while now, I can safely say Litecoin is renowned for its 'boring' stability.

For the most part of 2022 it hasn't really moved in price nor moved in marketcap rankings. However these past couple of weeks are different. Litecoin is moving up the marketcap ranks (which was unthinkable until just recently).

Here are a few theories.

Firstly in the wake of the FTX debacle, investors (especially retail) are starting to see just how risky crypto can be. Questions are being asked like if FTX can collapse, why can't other exchanges? Importantly people are fleeing crypto that they perceive as more risky, E.G FTT.

Litecoin has had 100 percent uptime, 10 years straight. That sort of reputation can only be earnt over time. Investors might see Litecoin as a less risky way to invest.

Secondly Litecoin's halvening event is coming up. In 2023. Historically Litecoin has seen a significant jump in price in the lead up to the halvening event. Though this hasn't been tested in a recession scenario so it's not a guaranteed.

Thirdly litecoin just implemented a privacy feature. In a time where people are questioning the point of crypto it is clear that privacy is going to be a big part of cryptos existence going forward.

These are a few theories and of course anything could change in the coming weeks.