LTC chip distribution, weak strength of the market makers. Market liquidity is dispersed, Litecoin is heavy and the market makers are weak, so there will not be an outstanding price performance.

The approval difficulty for altcoin ETFs is considerable; size and stability are key. However, once successful, the trend will be completely rewritten, and it will not follow the same path as ETH—Ethereum's weight is too heavy.

Currently, applications include DOGE, LTC, XRP, SOL, and DOT. In terms of success rate, LTC, SOL, and DOGE have a greater chance, while DOT is likely to be a runner-up, and XRP has serious centralization issues, making it quite difficult.

SOL: Supported by American capital, dubbed 'America's ETH', with a market cap of 71.1 billion. It has the most applicants, and the probability of ETF approval is extremely high. However, in the short term, it still serves as a tool for FTX capital recovery.

DOGE: With a market cap of 29.2 billion, POW consensus, countless fans, and support from Musk, the ETF progress is slightly slow but has great potential.

LTC: With a market cap of 7.1 billion, it has a long history, is sufficiently decentralized, and also follows POW, meeting SEC standards, although its liquidity is slightly worse. However, it is the first altcoin ETF to be officially accepted by the SEC, and on March 21, the SEC confirmed that POW mining does not count as securities, greatly increasing the probability of ETF approval.

In the past few years, Litecoin's performance in the market has indeed been lackluster, even somewhat 'agonizing'. But now, it has encountered an opportunity that could change its fate—ETF application.

Compared to other altcoins, Litecoin's level of decentralization is sufficiently high, and it follows the POW consensus, meeting SEC regulatory requirements. From the current progress, it is the first altcoin ETF application to be officially accepted by the SEC, and recently the SEC has also indicated that POW mining does not constitute a securities issuance; these greatly enhance the likelihood of approval. The earliest result could come in the second quarter, and at the latest by the second half of the year, this ETF challenge will yield a result.

From market performance, Litecoin has not fared well in the past two bull markets, with its market cap ranking continuously declining. However, relatively speaking, its resistance to decline during risk periods is decent, especially during the ETF application period, where it likely has little trapped capital, making it a stable option for seeking victory.

If Bitcoin experiences a subsequent pullback, Litecoin may have limited downside, with a quicker rebound. In the short term, its risk is even lower than ETH, making it suitable for long-term dollar-cost averaging or short-term hedging. If the ETF can be approved, the market's perception of Litecoin may undergo a reversal; buying LTC on dips should be a good investment option.