$97: Litecoin Price Hits Fresh 2018 Low
The price of litecoin (LTC), the world’s sixth largest cryptocurrency by market capitalization, fell to a fresh 2018 low on Wednesday.
Data from Bitfinex shows the cryptocurrency slipped to $97.04 today – the lowest level since Dec. 8 in 2017, reflecting a 74 percent decline since its all-time-high at $379 seen on Dec. 19. Further, the price of LTC is also reporting more than 60 percent depreciation since the beginning of this year.
LTC’s price decline over the past several months also followed a notable remark by its creator Charlie Lee who stated in a Reddit post on Dec. 20 that he had sold off all his holdings in the cryptocurrency, as previously reported by CoinDesk.
As of press time, the price of LTC has bounced back to $99.50 – down 6.3 percent in the last 24 hours.
In fact, other major cryptocurrencies are also flashing red. For instance, bitcoin dropped below $6,500 on Tuesday to hit its 70-Day low and is currently reporting a 3.8 percent decline on a 24-hour basis.
EOS also dropped by 10.33 percent within a day, making it one of the major losers among top 10 cryptocurrencies by market capitalization. Others including ethereum, XRP and bitcoin cash are reporting at least five to eight percent decline on a 24-hour basis.
Meanwhile, the total market capitalization of all cryptocurrencies dropped below $300 billion for the first time since April 12.
Falling coins image via Shutterstock
You may be interested
Crypto Markets See Only Slight Gains and Losses With BTC, ETH in the Greenbtcethereumadmin - June 17, 2018
Crypto markets keep experiencing mixed signals since last Sunday’s drop – BTC, ETH in the green, but just slightly. Crypto…
Hodler’s Digest, June 11-17: A Regulatory Win for Ethereum and a Falling Marketbtcethereumadmin - June 17, 2018
Why does Ripple’s Brad Garlinghouse think that China could control most of Bitcoin? Find out more in our Hodler’s Digest.…
Ex-Denver Post Journalists, Editors Launch New Blockchain-Powered Colorado News Outletbtcethereumadmin - June 17, 2018
A group of journalists and editors formerly of the Denver Post have left to start a new blockchain-powered local Colorado…