Litecoin Market Decline: A Detailed Overview

Litecoin's Significant Market Drop

Litecoin experienced a substantial decline, trading at $80.546, marking a 10.22% decrease, the steepest since April. This downturn reduced its market cap to $6.085 billion, representing 0.25% of the total cryptocurrency market. Previously, Litecoin's market cap peaked at $25.609 billion.

Trading Range and Volume

In the last 24 hours, Litecoin fluctuated between $80.523 and $86.522. Over the past week, its value diminished by 18.24%. The trading volume reached $1.040 billion, accounting for 0.81% of the total cryptocurrency trading volume. During the week, its price ranged from $80.4295 to $105.8900.

Historical Context

Currently, Litecoin's price is significantly lower, down 80.82% from its all-time high of $420.00, achieved on December 12, 2017. This historical context highlights the ongoing market challenges faced by Litecoin.

Broader Cryptocurrency Market Trends

In the broader cryptocurrency market, Bitcoin recorded a price of $66,600.4, experiencing a 2.27% decrease. Meanwhile, Ethereum traded at $3,186.23, reflecting a 4.24% loss. Bitcoin's market cap stood at $1,314.242 billion, dominating 54.83% of the market, while Ethereum held a market cap of $384.332 billion, making up 16.04% of the total market value.

Conclusion

Litecoin's recent performance indicates a challenging period for the cryptocurrency, with a significant decline from its historical highs. This trend is part of broader market movements affecting major cryptocurrencies like Bitcoin and Ethereum. Analyzing these shifts provides insights into the current dynamics of the cryptocurrency market.