Litecoin Faces Significant Downturn Amid Cryptocurrency Market Fluctuations

Litecoin's Recent Performance

Litecoin experienced a significant drop, trading at $77.458, marking a 10.69% decrease in a single day. This fall represents the largest one-day loss since March 19. This decrease has reduced Litecoin's market capitalization to $5.779 billion, which currently accounts for 0.25% of the overall cryptocurrency market cap. Historically, Litecoin's market cap reached a peak of $25.609 billion.

Weekly Trends and Trading Volume

Over the past week, Litecoin has witnessed a 20.15% reduction in value. During the last twenty-four hours, the trading volume for Litecoin amounted to $979.628 million, constituting 0.53% of the total trading volume across all cryptocurrencies. The price fluctuated between $77.4579 and $98.8706 during this period. Compared to its all-time high of $420.00 on December 12, 2017, Litecoin remains 81.56% lower.

Broader Cryptocurrency Market Movements

In the broader context of cryptocurrency trading, Bitcoin recorded a price of $61,827.4, experiencing an 8.53% decrease. Ethereum's value also declined, reaching $3,156.46, reflecting a 10.38% loss. Bitcoin's market capitalization was reported at $1,221.508 billion, representing 52.44% of the total cryptocurrency market cap. Meanwhile, Ethereum's market cap stood at $381.787 billion, accounting for 16.39% of the overall market value.

These fluctuations highlight the volatile nature of the cryptocurrency market and the challenges faced by major cryptocurrencies like Litecoin, Bitcoin, and Ethereum.