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The price of litecoin (LTC), the world's sixth largest cryptocurrency by market capitalization, fell to a fresh 2018 low on Wednesday.
Data from Bitfinex shows the cryptocurrency slipped to $ 97.04 today – the lowest level since Dec. 8 in 2017, reflecting to 74 percent decline since its all-time-high at $ 379 seen on Dec. 19. Further, the price of LTC is also reporting more than 60 percent depreciation since the beginning of this year.
LTC's price decline over the past few months also noted for its creator Charlie Lee who stated in a Reddit post on Dec. 20 that he had sold off his holdings in the cryptocurrency, as previously reported by CoinDesk.
As of press time, the price of LTC has bounced back to $ 99.50 – down 6.3 percent in the last 24 hours.
In fact, other major cryptocurrencies are also flashing red. For instance, bitcoin dropped below $ 6,500 on Tuesday to hit its 70-Day low and is currently reporting at 3.8 percent decline on a 24-hour basis.
EOS also dropped by 10.33 percent within a day. 10 cryptocurrencies by market capitalization. Others including ethereum, XRP and bitcoin cash are reporting at least five to eight percent on a 24-hour basis.
Meanwhile, the total market capitalization of all cryptocurrencies dropped below $ 300 billion for the first time since April 12.
Falling coins image via Shutterstock
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