The Litecoin price (LTC/USD) is fighting to stay above the $200 amid a downtrend that is weighing down the prices of most cryptocurrencies.
Litecoin’s performance on Monday was rather lacklustre, with the digital coin’s price moving in a tight range around the opening level of $213.74. The fifth-largest digital token on the market eventually closed the session at $211.18.
Litecoin has fallen further on Tuesday, dropping below $200 for the first time since February 24. The Litecoin price is currently hovering around the $200 level, data from cryptocurrency tracker Coinmarketcap shows.
Litecoin’s decline is part of a larger trend affecting the cryptocurrency market as a whole. The No. 1 cryptocurrency, Bitcoin, has dropped below $11,000 for the first time in four days, after losing 4.4% of its value in the past 24 hours. The second-largest digital coin, Ethereum, has seen similar losses over the same period, while Ripple’s 11% decline makes it the worst-performing digital asset in the top 10.
As a result of today’s poor performance, the market’s size has shrunk by nearly $30 billion from yesterday’s high of $473.9 billion.
In today’s trading, the Litecoin price stood at $202.25, as of 14:57 GMT. The digital coin has lost 5.25% of its value in the past 24 hours, according to Coinmarketcap data. The cryptocurrency’s total market capitalisation currently stands at $11.2 billion.
For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.