The litecoin price has lost some ground in Wednesday’s trading, following what seems to be a cool down of the cryptocurrency price rally. The cryptocoin, sometimes called the “silver to bitcoin’s gold”, remained in positive territory in the early trading hours of today’s session, but ultimately didn’t manage to maintain the positive momentum.
As of 16:10 BST, the litecoin price stood at $42.17, marking a six-percent decline over the past 24 hours. The coin’s total market capitalisation currently stands at $2.23 billion, according to data from Coinmarketcap.
Litecoin’s performance seems to be in line with that of the broader crypto market. The vast majority of cryptocurrencies were posting strong gains during the morning session, with only a few coins in the red. At the moment nearly 40 percent of the top 100 cryptocoins are in negative territory and even the best performers have retreated from their intraday highs.
The ethereum price is a prime example of that. Having seen with strong gains earlier, the coin lost steam in the afternoon, retreating to significantly lower levels. At the moment the second-largest cryptocurrency on the market is trading at $222.19 and is up 6.6 percent in the last 24 hours. However, this is a significant retreat from the highs seen in the morning, when it was trading in the low $240.
Bitcoin also showed significant strength early on, moving up to within $10 from the $2,400 mark. The digital currency is currently trading at 2,321.89, markng a 0.8-percent decrease over the past 24 hours according to data from Coinbase-operated exchange GDAX.
Ripple’s XRP token, which is the third-largest digital coin by market capitalisation, is trading at $0.181, after paring earlier gains.
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