The Litecoin price (LTC/USD) has remained mostly stable following a strong Wednesday session, in which it rose to a near one-month high, but a pullback in recent trading suggests that its rally may be running out of steam.
Yesterday, the fifth-largest cryptocurrency on the market $66.84, its highest price since October 15, before pulling back to a close of $64.83. The coin resumed its advance in today’s early trading, notching up an intraday high of $65.90. The Litecoin price has since retreated to lower levels and is currently hovering around yesterday’s close, according to data from cryptocurrency tracker Coinmarketcap.
Litecoin’s continues to enjoy solid trading volumes, although the market activity has fallen off its recent highs. According to Coinmarketcap, some $265 million worth of LTC tokens have exchanged hands in the past 24 hours. South Korea’s Bithumb cryptocurrency exchange accounts for 22.6% of that volume. US-based trading platform GDAX, which is operated by Coinbase, captures around 19% of the volume, while Hong Kong’s Bitfinex claims the third place with 15.6%.
Meanwhile, South Korea’s second-largest crypto exchange, Coinone, continues to play minor role in the daily LTC trading. The platform, which listed Litecoin at the end of last month, captures 1.4% of the current trading volume.
In today’s trading, the Litecoin price stood at $64.10, as of 11:28 GMT. The coin has gained 2.8% in the last 24 hours, according to Coinmarketcap. Its market capitalisation currently stands at nearly $3.5 billion.
For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.