On Wednesday, the price of litecoin (LTC), the world’s sixth largest cryptocurrency by market capitalization, fell under $100 which also happens to be a fresh 2018 low.
Data from Cryptochartindex shows Litecoin slipped to $97.04 today – the lowest level since Dec. 8 in 2017, reflecting a 74% decline since its all-time-high at $379 seen on Dec 19. Additionally, the price of LTC is also reporting more than 60% reduction since the commencement of this year.
Before Litecoin’s price decline over the past several months, its creator Charlie Lee gave an interesting piece of information who via a Reddit post on Dec. 20 that said- he had sold off all his holdings in the cryptocurrency.
As of press time, the price of Litecoin has sprinted back to $99.50 – still down 6.3% in the last 24 hours.
In fact, most important cryptocurrencies other than Litecoin are also flashing red. For example, bitcoin dropped below $6,500 on Tuesday to hit its 70-Day low and is presently reporting a 3.8% decline on a 24-hour basis. EOS also dropped by 10.33% within a day, making it one of the chief losers among top 10 cryptocurrencies by market capitalization. Others counting ethereum, XRP and bitcoin cash are reporting at least five to eight percent decline on a 24-hour basis.
In the meantime, the total market capitalization of all cryptocurrencies dropped below $300 billion for the first time since April 12.