- Litecoin dropped 10.13% in a single day, trading at $117.82, marking its biggest one-day loss since December 2024, while remaining 72.17% below its all-time high of $420.00.
- Despite recent gains, the broader cryptocurrency market also saw declines, with Bitcoin and Ethereum falling by 2.37% and 3.42%, respectively.
Litecoin (LTC) experienced a significant downturn on Wednesday, dropping 10.13% in a single day and trading at $117.82. This marks the largest one-day percentage loss since December 18, 2024, sending ripples across the cryptocurrency market.
Market Impact and Trading Range
The sharp decline pushed Litecoin’s market capitalization down to $8.864 billion, accounting for just 0.47% of the total cryptocurrency market cap. At its peak, Litecoin’s market cap was as high as $25.609 billion, showing how much ground it has lost since its all-time high.
Over the past 24 hours, Litecoin has traded within a range of $116.460 to $119.704. However, despite this recent drop, LTC has shown an overall positive trend over the past seven days, recording a 14.38% gain. The trading volume in the last 24 hours stood at $1.767 billion, which represents 0.74% of the total cryptocurrency market volume. Over the past week, Litecoin fluctuated between a low of $99.5976 and a high of $131.9501, demonstrating both volatility and trading opportunities.
How Does This Compare to Other Cryptos?
Litecoin’s sharp decline wasn’t an isolated incident. The broader cryptocurrency market also saw red, with Bitcoin (BTC) and Ethereum (ETH) experiencing losses. Bitcoin was trading at $95,319.1, marking a 2.37% drop, while Ethereum fell by 3.42% to $2,587.22.
Bitcoin continues to dominate the crypto space, boasting a market cap of $1,892.915 billion, representing a staggering 99.37% of the total market. Meanwhile, Ethereum’s market cap stood at $312.004 billion, making up 16.38% of the overall cryptocurrency market.
Looking Ahead: What’s Next for Litecoin?
At its current price, Litecoin remains 72.17% below its all-time high of $420.00, which it reached on December 12, 2017. While recent gains suggested a potential recovery, this latest drop raises concerns about whether Litecoin can sustain its upward momentum.
Crypto investors will be watching the market closely to see if Litecoin can rebound from this slump or if further declines are on the horizon. Given the high volatility of the cryptocurrency market, traders should remain cautious and keep an eye on key support and resistance levels before making any moves.
As always, it’s essential for investors to stay informed and make decisions based on thorough market analysis rather than short-term price movements. Will Litecoin bounce back, or is this the beginning of a deeper correction? Time will tell.
