LTC/USD closed at $359.106 after placing a high of $412.802 and a low of $335.177. Litecoin reversed its course and lost most of its previous day’s gains after hitting a new all-time high. It reached above $400 on Monday, this notable gain placed LTC in the top 10 cryptocurrencies by market capitalization and lifted its percentage in the crypto market to over 1% for the first time since early 2021.

The recent decline in Litecoin could be attributed to the profit-taking or a general break in the cryptocurrency market. After placing a new ATH, Litecoin saw a sudden decline in its prices on Monday. A study conducted by Chares Schwab has shown that more than 51% of millennials and Generation Z investors would more likely invest in cryptocurrencies than in traditional stocks. The rising interest in the digital assets sector due to fears of high inflation and dollar devaluation has pushed cryptocurrencies like LTC/USD to ATH levels, especially as the central banks around the world have responded to the coronavirus pandemic with easing of monetary policies.