Cryptocurrency

Litecoin’s value drops by 11% in a sudden sell-off, causing concern among investors.

Litecoin Experiences Significant Drop in Value

Litecoin’s Market Performance

Litecoin faced a substantial decline in value, with a 10.54% drop on Tuesday, marking its most significant one-day percentage loss since January 3. The digital currency was trading at $93.815 by 13:21 (17:21 GMT) on the Investing.com Index.

Market Cap Fluctuations

The downward trend in Litecoin’s value resulted in a decrease in its market cap to $7.020B, representing 0.27% of the total cryptocurrency market cap. In contrast, Litecoin’s market cap had reached $25.609B at its peak.

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Trading Patterns

Litecoin exhibited trading patterns within a range of $93.815 to $104.245 in the last twenty-four hours, showcasing volatility in the market.

Weekly Performance

Over the past week, Litecoin experienced a 10.63% increase in value, with a trading volume of $1.281B. Despite this positive trend, Litecoin remains down by 77.66% from its all-time high of $420.00 achieved on December 12, 2017.

Cryptocurrency Landscape

In the broader cryptocurrency market, Bitcoin saw a 4.05% decline to $69,556.8, while Ethereum dropped by 4.18% to $3,870.45. Bitcoin’s market cap stood at $1,370.407B, accounting for 52.08% of the total cryptocurrency market cap, whereas Ethereum’s market cap totaled $466.189B, representing 17.72% of the total market value.

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