Cryptocurrency Litecoin Falls More Than 5% In 24 hours
Portfolio Pulse from Benzinga Insights
Litecoin (CRYPTO: LTC) has experienced a significant decrease of 5.61% in the last 24 hours, bringing its price down to $98.13. This decline is part of a larger downward trend over the past week, with a total decrease of -9.0%. The trading volume for Litecoin has also dropped by 63.0% over the past week, and its circulating supply has slightly decreased by 0.07%, now standing at 74.40 million. Currently, Litecoin's market cap ranks it as the 23rd largest cryptocurrency, valued at $7.30 billion.
April 09, 2024 | 7:02 pm
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NEGATIVE IMPACT
Litecoin has seen a 5.61% decrease in the last 24 hours, with a weekly decline of -9.0%. The trading volume has significantly decreased by 63%, and the circulating supply has slightly decreased. Litecoin's market cap ranking is now #23.
The significant decrease in Litecoin's price over the past 24 hours and the past week, combined with a substantial drop in trading volume, indicates a negative short-term impact on its valuation. The slight decrease in circulating supply may not be enough to counteract the negative price trend. The current market cap ranking reflects its standing among cryptocurrencies but may be affected if the downward trend continues.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100