LiteCoin began the week trading in a consistent range giving hope to investors as LitePay continues development. Despite this seemingly good news LiteCoin has shown sluggishness after the market-wide volatility experienced in midweek trading.

And questions have been raised around the LiteCoin’s involvement with LitePay causing doubts about LiteCoin’s development as money. LiteCoin started the week trading in a consistent range between US$249.19 and US$229.66 over the the period 14 to 16 January 2018, according to pricing data released by CoinMarketCap.

A price range that suggests some measure of stability. With midweek volatility across all cryptocurrency markets, LiteCoin experienced a dramatic drop in price to as low as US$144.93 by the afternoon of 16 January.

Closing out the week at US$198.69 LiteCoin has shown some sluggishness compared to its competitors. LiteCoin has lost over 20% of its price since the midweek market selloff.

Compared to Ethereum’s 17%, or bitcoin’s loss of only 12.7%. What this could suggest is a softening in market confidence for LiteCoin. Read more from finder.com.au…

thumbnail courtesy of finder.com.au