Litecoin Plummets: Suffers a 12% Drop in a Dramatic Rout

"Litecoin's Market Cap Plummets to $6.734B, Representing a Mere 0.55% of the Cryptocurrency Market Cap"

Litecoin’s market cap has taken a significant hit, dropping to $6.734B, which represents only 0.55% of the total cryptocurrency market cap. This is a stark contrast from its highest market cap of $25.609B. Over the past 24 hours, Litecoin has traded within a range of $89.000 to $101.880.

However, over the past seven days, Litecoin has seen a stagnation in value, only moving 0.55%. The volume of Litecoin traded in the past 24 hours was $800.032M or 1.36% of the total volume of all cryptocurrencies. Over the past seven days, it has traded within a range of $88.9500 to $103.1000.

Despite its current price, Litecoin is still down 78.81% from its all-time high of $420.00, which was set on December 12, 2017. This has been a significant blow to the cryptocurrency, and it has struggled to regain its footing since then.

In comparison, Bitcoin was last trading at $28,664.2 on the Investing.com Index, which is down 5.59% on the day. Ethereum, on the other hand, was trading at $1,925.22 on the Investing.com Index, representing a loss of 7.95%.

Bitcoin’s market cap was last recorded at $560.321B, which is equivalent to 46.18% of the total cryptocurrency market cap. Ethereum’s market cap, on the other hand, totaled $233.421B or 19.24% of the total cryptocurrency market value.

In conclusion, Litecoin has taken a significant hit in the past few days, with its market cap dropping to a mere fraction of what it once was. While it has traded within a range of $89.000 to $101.880 in the past 24 hours, it has seen a stagnation in value over the past seven days, only moving 0.55%. Despite this, it remains to be seen whether Litecoin will be able to recover from this setback and regain its former glory in the cryptocurrency market.

Martin Reid

Martin Reid

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