Litecoin Plunges 11% in One Day, Massive Discount!
Litecoin plunged around 10.79% in a single trading day on Friday, trading around $83.05. This was its largest daily decline since November 3rd. The sell-off pushed Litecoin's market capitalization down to around $6.63 billion, accounting for only 0.23% of the total crypto market. In the past 24 hours, Litecoin has moved within a narrow range between $80.98 and $88.57.
In the past week, Litecoin has fallen around 11.33%, indicating fairly consistent selling pressure. Litecoin's 24-hour trading volume reached around $711.73 million, or 0.33% of the total transaction volume of all crypto assets. Over the past seven days, the price of LTC has touched the $80.98 area on the downside and approached $109.46 on the upside, indicating quite high volatility.
Compared to its all-time high of $420 on December 12, 2017, Litecoin's price is currently down more than 80%. For some long-term investors, this could be considered a "discount," but on the other hand, it also indicates that LTC has not been able to re-approach its peak levels despite several bullish phases in the crypto market.
The pressure isn't limited to Litecoin. Bitcoin fell around 9.04% to $83,421.50, while Ethereum weakened 11.16% to around $2,706.25. Bitcoin's market capitalization still dominates at around $1,702.72 billion, or 58.41% of the total crypto market, while Ethereum's is at around $325.91 billion, or 11.18%. This broad correction in major crypto assets indicates a market sentiment trending towards risk-off high-risk digital assets. (asd)
Source: Newsmaker.id
