Litecoin slumps 10% to three-week lows

Litecoin sank over 10%, or $6 on Thursday to September 19 lows, marking the worst performance since September 5 lows. 

As of 05:44 GMT, Litecoin fell 10.06% to $52.598, with an intraday high at $58.530, and a three-week low at $57.528. 

Litecoin is heading for the third weekly loss in a row, amid concerns in Japan, after the self-regulatory Japan Virtual Currency Exchange Association (JVCEA) set up steps to tighten the measures related to client asset management. 

The JVCEA is a self regulatory group that includes several major licensed crypto exchanges in Japan, established in April, with the organization also planning to put a cap on the amount of cryptocurrencies managed online through any platform. 

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.