Litecoin [LTC] and Cardano [ADA] mauled by the bear’s attack: 10% loss over the week


Litecoin [LTC] and Cardano [ADA] are two currencies that have repeatedly weathered the bear’s attacks over the past week, a rough one for any coin in the cryptocurrency market. The latest in this series of drops has pushed the price of Litecoin down by 3.06%, with Cardano losing 5.6% of its value.

The bearish week has left its mark on the coin, with 10.3% and 10.1% loss for Litecoin and Cardano respectively. It is also indicative of a broader trend in the cryptocurrency market, with a lack of energy seen in the movement of the coins. The bear has hence taken the opportunity to push the prices down, leading to a downward spiral in price and interest.

Litecoin:

The ‘silver to Bitcoin’s gold’ has dropped considerably in value since the beginning of this week, and was trading at around $55 at that time. The coin reduced its value down to $53.7 before recovering considerably to $54.4 and moving back down to $53 on November 8th.

It then proceeded to see a sharp drop on November 11th to $50.3, followed by a further drop earlier today down to the $49.6 mark. Litecoin then proceeded to recover to $50.2 before dropping down to below the $49.5 mark. It is now trading at $49, with a market cap of $2.8 billion at #7 by overall market cap.

Cardano:

Cardano has seen a steady decline over the week, starting at close to $0.08, and dropping down to $0.070 the next day. The coin then hiked back to $0.79 on November 8th, retracing an impressive recovery. However, it continued to drop over the next two days, presenting investors with an opportunity to buy at a low price of $0.074 on November 10th.

It then saw a slight recovery to the $0.076 mark on November 12th, before beginning a steady decline to $0.73, setting up the atmosphere before the drop today. It is currently trading at $0.071 with a market cap of $1.84 billion.


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Anirudh VK


Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.






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