#LitecoinETF

According to Cointelegraph, daily transactions on the Litecoin network have reached $9.6 billion as exchange-traded fund (ETF) issuers began offering their Litecoin ETFs in the United States. This surge in activity coincided with a significant increase in Litecoin’s market cap, which grew by 46% between February 2 and 19, as reported by Santiment on February 21. The report attributes this to a significant increase in network utility, with the network processing $9.6 billion in daily transaction volume over the past week.

Litecoin’s daily transaction volume was around $2.8 billion in late August, representing a 243% increase in five months. In addition, Litecoin’s price has more than doubled since early November, outpacing the overall cryptocurrency market’s 42% growth over the same period. This growth is partly driven by expectations surrounding a potential Litecoin ETF, which comes 13 months after the US Securities and Exchange Commission (SEC) approved the first Bitcoin ETFs.