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In late June and early July, Litecoin (LTC) experienced a strong surge, reaching price levels of $110 from $73. However, in August, it suffered a decline again, losing over 25% of its value and dropping to $67.9.
Over 25% Value Loss in the Past Month
With the rise in the cryptocurrency market, Litecoin (LTC) witnessed a significant increase in value, reaching as high as $110 from $73. This surge placed LTC among the prominent cryptocurrencies in terms of market value.
However, as the cryptocurrency market started to decline again and the leading cryptocurrency Bitcoin dropped to $25,400 in recent weeks, most altcoins experienced substantial losses. The total market value of the cryptocurrency market also recorded significant decreases.
Like most cryptocurrencies in the market, Litecoin (LTC) also suffered losses due to the decline in BTC. LTC experienced a strong downward momentum, losing more than 25% in the past month.
LTC Continues to Lose Value Against BTC
With Bitcoin falling below $30,000 in late July and dropping to $25,400 in recent weeks, many cryptocurrencies experienced significant value losses in the past weeks. Among the top 100 cryptocurrencies by market capitalization, LTC was one of the cryptocurrencies that suffered the highest percentage loss in August.
Litecoin (LTC), which recorded a value loss of over 25% in the past month, started trading at $67.9, losing an additional average of 0.5% in the last 24 hours according to CoinMarketCap data. In addition to the value loss in LTC, significant decreases were also observed in the BTC pair. LTC, which has been rapidly losing value against BTC in the past month, dropped to 0.0024 BTC after reaching 0.0032 levels at the beginning of August.
