The price of litecoin (LTC), the sixth-largest cryptocurrency by market capitalization, fell to a new low of 2018 on Wednesday.
Bitfinex data show that the price dropped to $ 97,04 USD – the lowest level since 8 December 2017 means 74 percent decline since its record of 379 dollars, which was observed on December 19. Since the beginning of this year the price of LTC has fallen by almost 60%.
Start lowering the price of LTC, many analysts attributed to the fact that Charlie Lee, the founder of the cryptocurrency, said in a statement on Reddit on December 20, he sold all his savings in Litecoin.
As of publication time, the price of LTC went back to 99,7 U.S. dollars. Thus the fall in the last 24 hours was 6.3 percent.
Today the majority of cryptocurrencies demonstrate negative dynamics. For example, bitcoin fell to two-week low in the area around 6500 dollars on Tuesday, and in the last 24 hours fell by almost 4%.
EOS also decreased by almost 9% over the past day that made him the leader of falling among the top cryptocurrencies. Other cryptocurrencies of the top 10 also show a negative trend over the past few knocks, but the rate of decline is lower – about 3-5 percent for the day.
Meanwhile, the total market capitalization of all cryptocurrencies fell below $ 300 billion for the first time since April 12.