Litecoin [LTC] falls by 7% over six hours as market correction ensues

[Magician]

The cryptocurrency market was painted red as most major cryptocurrencies saw falling prices. Among major cryptos, Litecoin [LTC] suffered the most, falling by over 5% in a day. The pump on May 3 caused a gradual rise in prices for most major cryptocurrencies. However, the market was undergoing correction and most major coins were falling, at press time.

LTC noted a fall of 5.37% over the past day and was valued at $73.16. Over the past six hours, LTC fell by a massive 7.58%, pulling its price down from $76.34 to $70.55. The coin recovered from the loss, but continued to fall by 0.07% over the past hour. Over the past seven days, LTC fell by 4.98%, with a market cap of $4.51 billion. The 24-hour trading volume of the coin was reported to be $2.59 billion.

Source: TradingView

LTC prices in April 2019 went from $32 to $90. However, the correction pulled the price below $80 over the past few weeks. At press time, the coin was valued just over $70, despite a steady spree of LTC adoption across various institutions. Recently, LTC partnered with Cobo Vault, the military-grade hardware wallet which provides convenient storage of recovery phrases on Cobo Tablet.

The highest trading volume for LTC was registered by DOBI Exchange with $251 million via LTC/BTC pair. Coinall followed DOBI Exchange, as it noted $231 million with LTC/BTC pair. The third pair to trade the highest was LTC/USDT on CoinEgg, recording a trading volume of $218 million.

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