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Litecoin [LTC] suffers 6% price slip as markets go on a downward spiral

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Litecoin [LTC] suffers 6% price slip as markets go on a downward spiral
Source: Pixabay

Litecoin [LTC] has slumped 6.18% in the 24-hour time frame, as most cryptocurrencies suffered a strong attack from the bear over the last week. The cryptocurrency market, in general, has been sliding downwards ever since the start of 2018, and it doesn’t come as a shock to see Litecoin and other dominant cryptocurrencies like Bitcoin [BTC], and Ethereum [ETH] falling down as well.

Litecoin, which was trading at $42.68 earlier, has slumped down 6.18% and was trading at a depreciated price of $39.99 at the time of writing. The market cap of Litecoin also fell down by $160 million and is currently at $2.36 billion.

As seen on the one-day chart, the price of Litecoin on November 18 pretty much stayed the same and moved sideways.

The price of Litecoin, which started trading at $42.68, took a steep downward slump at 06:34 UTC on November 19, bringing the prices down to $41.20.

Source: CoinMarketCap

On the seven-day time frame, the prices seem to have suffered a much more traumatic experience as compared to the one-day time frame. Litecoin was trading at $51.22 on November 12, until the ground below the prices collapsed, causing the prices to dip, first to $41.92, then to $40.78.

Source: CoinMarketCap

The total trading volume for Litecoin was $372.29 million and most of it came from Coinbit, which contributed 37.06% of the total trading volume i.e., $248.80 million. Coinbit is a Korean exchange and the volume comes from the trading pair LTC/KRW.

DOBI Trade follows Coinbit and contributes 13.12% of the trading volume. The total trading volume was contributed by LTC/BTC pairing.



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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

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