Litecoin tumbles over 2% to 1-1/5 year nadir

Litecoin fell over 2%, or $1 on Friday to June 2017 lows on track for a weekly loss after a hiatus from losses last week, amid a persistent crypto selloff. 

As of 06:22 GMT, Litecoin fell 2.62% to $26.20, with an intraday high at $27.013, and a 1-1/5 year nadir at $25.318. 

The Group of 20 has pledged on Friday after the Argentinean summit to regulate crypto trading in order to combat money laundering and terrorism funding. 

Last month, International Monetary Fund head Christine Lagarde suggested on global central banks and their respective governments the possibility of issuing their own digital currencies to make them more stable and controlled and accessible for all sectors instead of the current mayhem in that market. 

Lagarde believes that payments through digital currencies would be instant, safe, and cheap, and while they would be anonymous, central banks will keep a database of all payments, cutting out fraud and money laundering operations. 

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, before marking 17-month lows on November 25 at $27.726.