LTC Surges 12.5% as MEI Pharma Invests $100M and Charlie Lee Joins Board, ETF Hopes Rise

Litecoin (LTCUSDT) has experienced a notable 12.51% price increase over the past 24 hours, rising from an open of 100.19 to 112.72 on Binance. This surge is primarily attributed to heightened institutional interest, particularly MEI Pharma's announcement of a $100 million Litecoin treasury strategy and the addition of Litecoin founder Charlie Lee to its board, which has significantly boosted market sentiment. Additional contributing factors include record open interest in Litecoin futures, optimism surrounding a potential U.S. spot Litecoin ETF approval, and anticipation of the upcoming halving event, all of which have driven increased trading activity and positive price momentum.

Currently, Litecoin is trading at 112.72 with a 24-hour trading volume between $1.36 billion and $1.58 billion, and a circulating supply of approximately 76.09 million LTC, placing it among the top 20 cryptocurrencies by market capitalization. The market remains dynamic and bullish, with strong buying pressure and elevated trading volumes supporting the recent price gains.