Litecoin (LTC) Hits $50, Approaching a 12-Month Low

The price of Litecoin¬†(LTC), the cryptocurrency largely considered to be the silver to Bitcoin’s gold, recently broke $50 and is on the cusp of breaching its 12-month low.

Now, the popular altcoin is trading at $51.84, down more than 85% from all-time highs, and holds a market cap of roughly $3 billion.

Despite its massive price drop, the foundation supporting the Litecoin ecosystem has continued to progress. Recently, Litecoin officially revamped its website, Litecoin.com, as part of an effort to reach a broader audience of users, including individual investors, developers and businesses.

The news came shortly after¬†Charlie Lee, the founder of Litecoin,¬†revealed¬†that he is considering adding privacy functionality to bring true fungibility to the popular altcoin. Additionally, Lee recently went on record to state that he is not considering purchasing LTC after notably¬†“selling and donating”¬†all of his holdings last December when the price was at all all-time high.

LTC is currently ranked 7th in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

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More: Litecoin (LTC) Revamps Its Website to Reach a Broader Audience
Similar: ICO Funding Hits Lowest Point in 16 Months, Driving Ethereum (ETH) Price Decline

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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