Litecoin (LTC) Market Cap Drops to $7B After 10% Daily Plunge, Raising Questions About the Future of Digital Finance

The recent decline in the value of Litecoin has sent ripples across the crypto world, affecting not just traders but also traders' confidence and raising questions about the future of digital currencies.

The value of Litecoin (LTC) saw a steep decline on Friday, with a significant drop of 10.03% in its trading price. This brought LTC to a trading price of $92.548 on Friday, marking its sharpest daily percentage decline since August 5, 2024.

This substantial drop also impacted Litecoin's market capitalization, which decreased to $7.065 billion. This represents a mere 0.22% of the entire cryptocurrency market. At its peak, Litecoin's market capitalization reached $25.609 billion, highlighting the volatile nature of digital currencies.

Over the past 24 hours, Litecoin's trading range spanned from $91.735 to $103.008. This follows a week where Litecoin experienced a 5.99% increase from its previous valuations. It accounted for 0.79% of total crypto trading volume, with $1.671 billion being exchanged.

Despite recent trends, Litecoin's value remains drastically lower compared to its former glory. It is down by 77.96% from its all-time high of $420.008, which was reached in December 2017.

This turbulence was not limited to Litecoin, as the price of Bitcoin (BTC) also saw a downturn. It decreased by 2.19% to rest at $96,265. Meanwhile, Ethereum (ETH) encountered a 4.69% drop, landing at $3,296.07.

Bitcoin maintained a strong presence in the market with a market capitalization of $1,917.317 billion, which is equivalent to 58.51% of the overall market. On the other hand, Ethereum's market share was at $399.564 billion, covering 12.19% of the market.