Why Litecoin Is Nosediving Today

Shares of several popular altcoins, including Litecoin LTC/USD, are trading lower in sympathy with apex cryptocurrency Bitcoin BTC/USD and second-largest market cap crypto Ethereum ETH/USD. 

Crypto is likely trading lower in tandem with major U.S. indices. Major indices are lower following worse-than-expected May CPI data. Rising inflation has caused economic concerns and has also raised expectations for further Fed policy tightening.

Get Started

Start Your Crypto Journey Today and Get $500 in Rewards

Exclusively for new Crypto.com App users, unlock up to $500 worth of rewards in the most popular tokens when you start trading.

Get Started

According to data from Benzinga Pro, Litecoin is trading lower by 5.08% to $56.82 Friday afternoon. Litecoin is also lower by 29.82% over the trailing month amid ongoing weakness in the broader cryptocurrency market.

See Also: Apple Reportedly Plans For a Bevy Of Laptops Armed With Powerful In-House Chips