$LTC Litecoin extended its gains from last week, rising as much as 13% today on renewed hopes for Litecoin ETF approval and a soaring open interest rate that just hit a four-year high of $800 million. Is $150 approaching?
Litecoin prices have surged as much as 13% over the past 24 hours to hit a 30-day high of $ 139.40, according to data from CoinMarketCap.
Daily trading volumes for the 12th most popular digital currency also surged by over 65% to hit $1.93 billion.
Much of the coin’s bullish price action today can be attributed to renewed hopes for Litecoin ETF approval.
The debate over the ETF approval was started by Eric Balchunas, a senior analyst at Bloomberg, who shared a post on X (formally Twitter) in which he laid out thoughts he had shared publicly before arguing that Litecoin has the highest chance of approval.
In the post, Balchunas claimed that the odds of a Litecoin ETF being approved in 2025 have skyrocketed to 90%.
He further claims that the coin has a higher chance of approval than Dogecoin, Solana, and Ripple, despite the SEC having acknowledged receipt of all of its ETF filings.