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Litecoin Plummets 10% in Bearish Trade, Market Cap Shrinks to $1.13B
AInvestSaturday, Feb 1, 2025 11:18 pm ET
1min read

Litecoin, the fifth-largest cryptocurrency by market capitalization, experienced a significant drop of 10% in a bearish trade on Sunday. The decline pushed Litecoin's market cap down to $1.1328B, representing 0.03% of the total cryptocurrency market cap. At its peak, Litecoin's market cap reached $17.5290B.

Over the past seven days, Litecoin has seen a decrease in value, with a loss of 8.33%. The volume of Litecoin traded in the twenty-four hours to time of writing was $174.2939M or 0.18% of the total volume of all cryptocurrencies. It has traded in a range of $0.7052 to $0.8190 in the past 7 days.

At its current price, Litecoin is still down 96.85% from its all-time high of $22.98 set on April 29, 2018.

Elsewhere in cryptocurrency trading, Bitcoin was last at $99,834.4 on the Investing.com Index, down 2.54% on the day. Ethereum was trading at $3,091.27 on the Investing.com Index, a loss of 6.48%. Bitcoin's market cap was last at $1,992.3019B or 58.61% of the total cryptocurrency market cap, while Ethereum's market cap totaled $375.7307B or 11.05% of the total cryptocurrency market value.

Bitcoin's price dropped below $100k amid Trump's tariffs on Canada, China, and Mexico. The global markets were impacted by the tariffs, leading to a selloff in cryptocurrencies. The impact of trade wars on cryptocurrency markets has been a topic of interest, with experts analyzing the correlation between geopolitical events and cryptocurrency prices.

Canada imposed 25% tariffs on $155B worth of US goods, which could potentially affect cryptocurrency markets. The tariffs are part of an ongoing trade dispute between the US and Canada, which

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.