Less than 24 hours after hitting a fresh all-time high of $106.39, the Litecoin price (LTC/USD) has fallen below the $100 mark due to a sharp drop in late Sunday trading and a wobbly performance so far on Monday.
Like some of its major rivals, such as Bitcoin (BTC) and IOTA (MIOTA), Litecoin soared fresh highs on Sunday, but its record-breaking run was brought to an end by a sudden drop in the evening. The Litecoin price quickly fell to an intraday low of $98.10, but managed to claw back to a close of $101.26. However, the cryptocurrency’s performance has been shaky on Monday, with the coin currently trading at around $99. It has lost 4% in the past 24 hours, according to data from cryptocurrency tracker Coinmarketcap.
Despite the recent decline, Litecoin has been one of the best-performing major cryptocurrencies over the past few days. Last week the Litecoin price broke above the $100 barrier for the first time on Wednesday, notched up its first close above that mark on Saturday and yesterday set the aforementioned record of $106.36.
On top of that, the cryptocurrency has seen a significant improvement in term of market activity, with trading volumes consistently staying upwards of $300 million. According to Coinmarketcap, LTC’s 24-hour trading volume currently stands $359 million, with Coinbase’s GDAX exchange generating just over a quarter of that volume.
In today’s trading, the Litecoin price stood at $99.71, as of 15:09 GMT. The cryptocurrency has lost 3.9% in the past 24 hours and its total market capitalisation currently stands at $5.4 billion.
For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.