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Litecoin Plunges 6% to Fresh Monthly Lows on Halving Day

Litecoin (LTC) plunged to its lowest price in a month Wednesday afternoon shortly after undergoing its anticipated "halving" event. The native token of the Litecoin blockchain sunk to as low as $86, a level not seen since June 30, according to CoinDesk price data. The coin is down roughly 6% during the day, underperforming bitcoin (BTC) and the broader crypto market represented by the CoinDesk Market Index, down 0.8% and 0.5%, respectively. However, LTC’s price performance of around halvings differs from BTC’s behavior. In prior halving years, LTC hit a top about four to six weeks ahead of the event, then declined into the halving and found a bottom after, Cipolaro explained.

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