Litecoin Falls More Than 6% In 24 hours
Portfolio Pulse from Benzinga Insights
Litecoin (CRYPTO: LTC) has seen a significant decline, dropping 6.63% in the last 24 hours to $64.16, continuing a negative trend with an 8.0% loss over the past week. The volatility of Litecoin is highlighted by the Bollinger Bands in the provided chart. Trading volume has decreased by 23.0%, while the circulating supply has increased by 1.08% to 74.13 million, which is 88.24% of the max supply. Litecoin's market cap is currently ranked #20 at $4.72 billion.
January 23, 2024 | 3:01 pm
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Litecoin's price has fallen by 6.63% in the past 24 hours and 8% over the past week, with a decrease in trading volume but an increase in circulating supply.
The significant price drop in Litecoin, coupled with a decrease in trading volume, suggests a bearish outlook in the short term. The increase in circulating supply without a corresponding price increase may also put downward pressure on the price. The market cap ranking indicates that Litecoin is a major cryptocurrency, so these price movements are particularly noteworthy.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100