Litecoin Market Cap Drops to $8.71B After Suffering Largest One-Day Percentage Loss Since December 9

Litecoin was trading at $115.997 by 12:55 (17:55 GMT) on the Investing.com Index on Wednesday, down 10.47% on the day. It was the largest one-day percentage loss since December 9.

Litecoin price plunged on Wednesday, marking its steepest one-day decline since mid-December.

Litecoin was down 10.47% to $115.99 by 12:55 ET (17:55 GMT) on Investing.com's cryptocurrency index.

The sharp decline on Wednesday wiped out gains made over the past seven days, during which time the cryptocurrency had risen only 0.17%.

At its current price, Litecoin was still down about 72% from its all-time high of $420, reached on Dec. 12, 2017.

The slide in Litecoin on Wednesday also pushed its market cap down to $8.710 billion, or about 0.24% of the total cryptocurrency market value.

At its peak, Litecoin's market cap stood at $25.609 billion.

In other cryptocurrency news, bitcoin price fell on Wednesday, extending losses from the prior session as a recent rally in the world's largest cryptocurrency showed signs of fizzling out.

Bitcoin was last down 2.60% to $104,716.4 on Investing.com's crypto index.

Bitcoin had risen to as high as $107,834.3 earlier in the session, but quickly reversed course to trade in negative territory.

Nr. 2 cryptocurrency Ethereum was also lower, trading at $3,885.72 on Investing.com's crypto index, a loss of 2.26%.

Bitcoin's market cap was last at $2,072.236 billion, or about 56.71% of the total cryptocurrency market cap, while Ethereum's market cap totaled $467.544 billion, or roughly 12.79% of the total crypto market value.