LTC Surges 9.96% as MEI Pharma Adopts $100M Litecoin Treasury, Founder Joins Board

Litecoin (LTCUSDT) has experienced a significant price increase of 9.96% over the past 24 hours, with the current price at $111.84 on Binance. The primary driver behind this surge is the announcement that Nasdaq-listed MEI Pharma will implement a $100 million Litecoin treasury strategy, marking the first instance of a publicly traded company adopting LTC as a corporate reserve asset. Additional momentum has come from Litecoin founder Charlie Lee joining MEI Pharma’s board and renewed optimism around Proof-of-Work assets, as well as ongoing speculation about a potential Litecoin ETF.

Market activity has been robust, with 24-hour trading volume reaching approximately $1.58 billion and market capitalization rising above $8.6 billion, reflecting strong buying interest and positioning Litecoin among the top 20 cryptocurrencies by market cap.