People always used to say that if BTC was digital gold, then LTC would be digital silver. Guess they weren't wrong. Proof of the power of both network effects and first-mover advantage. Earlier coins are proving more resilient than later clones. They've had more time to grow their userbase and provide greater utility because of that. A 'snowball effect' in action.
Yes they weren't wrong indeed.
LTC is exactly like silver.
Look at gold (I mean actual gold, not btc), while gold is wandering around its ATH price(~$2200), silver (not ltc, actual silver) is nowhere near of its ATH (~$50). Gold to silver ratio today is 2183,86÷24,61=88.73. Silver has much more use in the industry than gold. More to that, silver becomes unusable once it is used. Gold can be as used again and again. You can use gold 10000 times and then use the same gold again for the 10001st time and it will function just like how it did in the last 10 thousand times. I heard that's not the case with silver.
We see the same picture between BTC and LTC. LTC is dominating the purchases but its price is not reflecting that demand from the users. People use it more, people need it more to buy stuff but its price is not going anywhere.