Litecoin's Recent Decline and Market Dynamics

Litecoin's Market Performance

Litecoin recently experienced a significant drop, trading at $87.084, marking a 10.15% decline in a single day. This decrease is the largest since August 5, impacting Litecoin's market cap, which fell to $6.591 billion. This represents 0.22% of the total cryptocurrency market cap. Previously, Litecoin's market cap reached a peak of $25.609 billion.

Trading Range and Volume

In the last 24 hours, Litecoin traded between $86.857 and $97.261. Over the past week, it has shown a positive trend, gaining 12.19%. The trading volume for Litecoin in the last 24 hours was $1.627 billion, accounting for 1.02% of the total cryptocurrency trading volume. Within the past week, its price fluctuated between $71.8827 and $98.3636.

Historical Price Context

Despite recent movements, Litecoin remains 79.27% below its all-time high of $420.00, recorded on December 12, 2017. This historical context highlights its current valuation challenges.

Comparative Cryptocurrency Analysis

In comparison, Bitcoin was trading at $90,070.5, experiencing a 1.36% decrease. Ethereum also saw a decline, with its price at $3,079.68, down by 3.16%. Bitcoin's market cap was $1.784 trillion, making up 59% of the total cryptocurrency market cap, while Ethereum's market cap was $372.050 billion, constituting 12.3% of the total market value.

Understanding these dynamics provides insight into the broader cryptocurrency market and Litecoin's position within it.