Why Are Cryptocurrencies Crashing?

Litecoin was down 12.14% for the day and trading at $50.370 as of 23:22 (03:22 GMT) on Monday. Since May 11, it was the biggest drop in a single day.

The decline caused Litecoin’s market cap to drop to $3.725B, or 0.41% of the overall market value of cryptocurrencies. Market capitalization for Litecoin peaked at $25.609 billion. The price of Litecoin fluctuated between $50.360 and $53.700 over the preceding 24 hours. Litecoin’s value decreased during the previous week, falling 15.23%. Litecoin’s trading volume for the previous 24 hours was $494.447M, or 0.71% of the total volume of all cryptocurrencies. The previous week fluctuated in price between $50.3600 and $67.3800. Litecoin is still down 88.01% from its all-time high, which was $420.00 on December 12, 2017, at its current price.

In Other Cryptocurrency Markets

By 22:34 (02:34 GMT) on Monday, Cardano was down 10.02% for the day and trading at $0.4361. Cardano’s market cap decreased due to the negative movement to $15.0417B, or 1.65% of the overall market value of cryptocurrencies. Cardano’s market cap peaked at $94.8001B.

In the preceding 24 hours, Cardano has traded between $0.4351 and $0.4513. Cardano’s value fell over the last seven days, falling 13.4%. Cardano exchanged $728.5613M worth of volume in the 24 hours before the time of writing, which is 1.08% of the total volume of all cryptocurrencies. In the last 7 days, it has traded in a range between $0.4351 to $0.5081.

Cardano was down 85.93% from its previous price of $3.10 on September 2, 2021. By 22:18 (02:18 GMT) on Monday, Ethereum was trading at $1,297.83 on the Investing.com Index, down 10.64% for the day. Since August 26, it was the biggest percentage drop in a single day. The negative movement reduced Ethereum’s market cap to $164.19B, or 17.59% of the overall market worth of cryptocurrencies. In the recent 24 hours, the price of Ethereum fluctuated between $1,297.18 and $1,353.00.