Litecoin relinquishes gains and resumes decline

Litecoin trimmed its gains of yesterday that saw it at five-session highs before resuming its decline today, as cryptocurrencies continue to face heavy volatility. 

During 2018, 47 new cryptocurrencies have been issued so far, increasing the market value of cryptocurrencies by $1.1 billion. 

Analysts expect more initial coin offerings this year, however it would depend on the regulatory environment in the major zones, such as the European Union and the US. 

Last year, 902 new currencies have been issued, of them 142 failed before the offering, and 276 failed after the initial offerings. 

Litecoin dipped to $216.70 from the opening of $218.74, with a session-high at $221.30, and a low at $212.14.