Litecoin (LTC) Price Plummets Over 12% in 24 Hours
In the past 24 hours, the price of Litecoin (LTC) has seen a significant decline of 12.48%, with its current price standing at $64.13. This continues the negative trend observed over the past week, where the cryptocurrency has experienced a 14.0% loss, dropping from $75.47 to its current value.
Analyzing Litecoin’s Price Movement and Volatility
Taking a closer look at Litecoin’s price movement and volatility, we can compare the past 24 hours to the previous week. The chart shows that the gray bands, known as Bollinger Bands, indicate the volatility of the daily and weekly price movements. When the bands are wider, or the gray area is larger, it signifies higher volatility.
Trading Volume for Litecoin Surges 155% in a Week
Interestingly, the trading volume for Litecoin has risen by a notable 155% over the past week. This significant increase in trading activity contrasts with the circulating supply of the coin, which has decreased by 0.46%. Currently, the circulating supply of Litecoin stands at 74.05 million, making up around 88.16% of its maximum supply of 84.00 million. According to our data, the current market cap ranking for Litecoin is #21, with a market cap of $4.82 billion.
Circulating Supply and Market Cap Ranking of LTC
The circulating supply of Litecoin has seen a slight decrease of 0.46%. However, it still accounts for the majority of the coin’s total supply. With a circulating supply of 74.05 million, Litecoin holds a market cap of $4.82 billion, ranking it at #21 in the crypto market.
Litecoin’s Negative Trend Continues, Falls 14% in a Week
It is evident that Litecoin’s negative trend has persisted over the past week, with the cryptocurrency falling by 14% in value. This recent decline, coupled with the overall drop in price over the past 24 hours, suggests that Litecoin is experiencing a period of bearish sentiment. Investors and traders should closely monitor the price movements and take caution before making any investment decisions.
Disclaimer: This article is generated by Benzinga’s automated content engine and reviewed by an editor. Benzinga does not provide investment advice. All rights reserved.
Analyst comment
As an analyst, I would assess this news as negative. The price of Litecoin has plummeted over 12% in 24 hours and has experienced a 14% loss in the past week. This indicates a continuing negative trend and a period of bearish sentiment. In the market, investors and traders should exercise caution and closely monitor price movements before making any investment decisions.
