LTC Surges 13% as MEI Pharma Invests $100M, Becomes First Public Firm to Hold Litecoin

Litecoin (LTCUSDT) experienced a significant price increase of 13.09% over the last 24 hours, rising from an open of $102.38 to $115.78 on Binance. This surge is attributed to heightened market interest following MEI Pharma's announcement of a $100 million private placement to acquire Litecoin as a treasury reserve asset, making it the first publicly traded company to hold LTC on its balance sheet. Additionally, positive momentum was supported by broader market optimism after the U.S. House of Representatives advanced a crypto-related bill, and technical factors such as breaking key resistance levels around $95.50-$96.00. Trading volume has been robust, with the 24-hour volume ranging from $1.36 billion to $1.57 billion, and Litecoin's market capitalization now stands at approximately $8.60 billion, reflecting strong investor activity and bullish sentiment.