Litecoin price (LTC/USD) plunges to seven-month low on Friday

Japanese messaging app LINE to launch crypto exchange next month

Litecoin price (LTC/USD) plunges to seven-month low on Friday

The Litecoin price (LTC/USD) has hit a seven-month low as the digital has plunged amid the latest crypto sell-off.

Litecoin struggled in the early hour of yesterday’s session, with its price falling to around $78, from an opening level of just over $80. The digital currency experienced a small uptick in the afternoon, but like many of its crypto rivals, its price plunged in the final hours of the session. Litecoin finished the session at $74.93, which was its lowest close in more than seven months.

Litecoin and the wider digital currency market have seen further losses in today’s trading. LTC has fallen below the $74 mark, hitting a low of $73.50. This was Litecoin’s lowest level since November 23, according to data from digital currency tracker Coinmarketcap. At the time of writing, the Litecoin price was hovering around $73.70.

In more positive news, Japanese messaging app firm LINE confirmed yesterday that it would launch a cryptocurrency exchange next month. The company first unveiled its plans to launch a crypto exchange platform in January, adding that it had applied for registration with Financial Services Agency. However, yesterday LINE announced that the platform, called BitBox, would not be available for users in Japan and the US. Other than that, Bitcoix would be available worldwide and in 15 languages, according to a report from TechCrunch. The platform will support 30 tokens, including major coins such as Bitcoin, Ethereum, Bitcoin Cash and Litecoin. The platform will offer only token-to-token trading.

In today’s trading, the Litecoin price stood at $73.73, as of 16:10 BST. The digital coin has lost 6.7% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s market capitalisation currently stands at $4.2 billion.

For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.

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