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In late June and early July, Litecoin ($LTC) experienced a strong surge, reaching price levels of $110 from $73. However, in August, it suffered a decline again, losing over 25% of its value and dropping to $67.9.
Over 25% Value Loss in the Past Month
With the rise in the cryptocurrency market, Litecoin ($LTC) witnessed a significant increase in value, reaching as high as $110 from $73. This surge placed $LTC among the prominent cryptocurrencies in terms of market value.
However, as the cryptocurrency market started to decline again and the leading cryptocurrency Bitcoin dropped to $25,400 in recent weeks, most altcoins experienced substantial losses. The total market value of the cryptocurrency market also recorded significant decreases.
Like most cryptocurrencies in the market, Litecoin ($LTC) also suffered losses due to the decline in $BTC. $LTC experienced a strong downward momentum, losing more than 25% in the past month.
$LTC Continues to Lose Value Against $BTC
With Bitcoin falling below $30,000 in late July and dropping to $25,400 in recent weeks, many cryptocurrencies experienced significant value losses in the past weeks. Among the top 100 cryptocurrencies by market capitalization, $LTC was one of the cryptocurrencies that suffered the highest percentage loss in August.
Litecoin ($LTC), which recorded a value loss of over 25% in the past month, started trading at $67.9, losing an additional average of 0.5% in the last 24 hours according to CoinMarketCap data. In addition to the value loss in $LTC, significant decreases were also observed in the $BTC pair. $LTC, which has been rapidly losing value against $BTC in the past month, dropped to 0.0024 $BTC after reaching 0.0032 levels at the beginning of August.