Litecoin slides 2% for second straight session

Litecoin fell over 2%, or $1 on Wednesday away from September 5 highs for the ninth session out of 14, and after marking the best daily performance since February 14 on September 27, bolstered by crypto discussions reaching the United Nations. 

As of 05:16 GMT, Litecoin slid 2.42% to $57.632, with an intraday low at $57.528, and a high at $59.097. 

In a speech to the United Nations, prime minister of Malta, Joseph Muscat, declared cryptocurrencies and blockchain technologies as the future and the solution to many of the problems facing the finance world today. 

But while Malta continues to be an oasis for crypto incentives and official recognition, many other countries are still eyeing the new business with doubts, with China for example banning cryptocurrencies outright.

Litecoin was buoyed last week as Google announced an update to its ad policy in October to allow certain crypto companies to advertise on the platform. 

Google's announcement now allows registered companies to advertise on the Google Ad Words system, targeting America and Japan. 

The crucial change of policy comes after Google banned all crypto adds from its platform last March due to multiple concerns. 

Facebook also recently reversed a ban on crypto ads for registered companies, while maintaining the ban on ads for initial coin offerings. 

The Path of Litecoin

Litecoin was first publicly offered in the first half of 2013 at only $3, marking record lows at below $1 in early 2015 before taking off on its long and spotted journey higher. 

The cryptocurrency pierced $100 for the first time on November 29, 2017, before scaling a record high at $370.78 on December 19, and plummeting back below $100 on June 12, then moving on to $$47.22 on September 12.