LTC Slides 5.21% After $282M Hardware Wallet Breach Sparks Volatility and Whale Activity

Litecoin (LTCUSDT) experienced a significant price decrease of 5.21% over the last 24 hours, now trading at $70.96, with the drop largely attributed to heightened market uncertainty following the January 10 hardware wallet compromise that resulted in the theft of $282 million in BTC and LTC. The event led to stolen LTC being moved across networks and sent to multiple exchanges, impacting market sentiment and contributing to increased volatility. Additional bearish pressure was observed as LTC failed to break above key technical resistance levels, despite a surge in whale transactions and open interest.

Currently, Litecoin's market capitalization is approximately $5.73–$5.77 billion, with a circulating supply of 76.75 million LTC out of a maximum 84 million. Trading volume on the Binance LTCUSDT pair surpassed $23 million in the last 24 hours. While institutional interest remains strong—highlighted by major purchases and increased staking activity—the market remains cautious following recent security developments and continued technical consolidation.