Litecoin (LTC) is making headlines again, soaring over 11% in the last 24 hours and briefly crossing the $123 mark. This surge comes as renewed excitement builds around the potential approval of a spot Litecoin ETF, despite the SEC’s recent delay in making a final decision on Grayscale’s application until October.
📈 What’s Fueling the Rally?
Traders are rotating back into older, proven altcoins like Litecoin as market sentiment begins to warm. At the same time, Litecoin is gaining traction as a payment option among merchants, adding to its real-world use case and strengthening long-term value.
📊 Top Weekly Gainer
LTC has outperformed its peers this week, becoming the top gainer among the top 100 cryptocurrencies. Analysts are pointing to Litecoin’s commodity-like classification as a major factor that could boost its ETF approval chances—Bloomberg even puts the odds at 90%.
⚖️ Regulatory Edge
With structural adoption on the rise and regulatory winds shifting in its favor, Litecoin is positioning itself as more than just a legacy altcoin—it’s becoming a serious contender in the race for crypto ETF approvals.