Litecoin Experiences Significant Market Downturn

Litecoin Market Performance

Litecoin recently experienced a notable drop, trading at $107.077, marking a 12.20% loss in a single day. This decline is the largest since December 9, significantly impacting its market capitalization, which fell to $8.065 billion. This figure represents 0.24% of the total cryptocurrency market cap, a stark contrast to its peak market cap of $25.609 billion.

Recent Trading Range

Over the past 24 hours, Litecoin's trading range varied between $101.479 and $114.725. A broader look over the past week reveals a 16.59% decrease in value, with prices fluctuating from $101.3821 to $146.4875. Despite these shifts, Litecoin remains significantly lower, 74.51% beneath its all-time high of $420.00, recorded in December 2017.

Cryptocurrency Market Context

In the wider cryptocurrency landscape, Bitcoin was priced at $96,045.1, experiencing a slight decline of 1.02%. Ethereum also faced a decrease, trading at $3,634.08, down by 4.30%. Notably, Bitcoin's market cap stands at $1,898.783 billion, accounting for 56.01% of the total cryptocurrency market. Ethereum's market cap is positioned at $437.520 billion, making up 12.91% of the total market value.

This recent performance of Litecoin highlights ongoing volatility and valuation challenges within the cryptocurrency market, reflecting broader trends impacting major digital currencies.