- Litecoin potential ETF approval has fueled market excitement, driving a 46% surge in its market cap.
- Litecoin price gained 37% in February, with traders eyeing a possible rally toward $175 amid strong speculative interest.
Excitement is heating up around a potential Litecoin ETF. The Depository Trust and Clearing Corporation (DTCC) recently listed the proposed Canary Capital Litecoin ETF. This move has sparked conversations across the crypto space. Bloomberg ETF analyst Eric Balchunas explained that the DTCC listing shows preparation, not final approval. Still, investors remain hopeful.
Nate Geraci from ETF Store compared the situation to past Bitcoin ETF approvals. “Litecoin ETF ‘listed’ on DTCC… I think it’s highly likely that LTC ETF is coming,” he noted. The 194-b filing for the Canary LTC ETF, submitted on February 4, could see an SEC decision within 45–90 days. That timeline has the market on edge.
Growing Market Demand and Activity
The ETF buzz has already impacted Litecoin market activity. LTC’s market cap soared by 46%, nearing $10 billion. According to Santiment, daily transaction volumes skyrocketed to $9.6 billion over the past week. The network’s increased utility reflects the growing investor interest and bullish sentiment.
Litecoin Futures Market Shows Strong Speculative Interest
The futures market has also joined the rally. Litecoin’s Open Interest (OI) surged to $869 million, approaching the 2021 peak of $1 billion. This signals that traders are betting big on LTC’s upward potential.
Price-wise, Litecoin gained roughly 37% in February, trading around $134. It has held onto gains from November, showcasing resilience despite market volatility.
Price Outlook: Can LTC Hit $175?
LTC currently sits in a critical supply zone. Moving Averages around the $120 mid-range may offer buying opportunities if the positive momentum continues. A decisive breakout could push prices toward $175, highlighting the altcoin’s volatility and potential upside.
Litecoin: What’s Next ?
With the SEC’s decision window open, the next few weeks are crucial. Approval of the Litecoin ETF could ignite further price surges. Traders should stay alert and monitor regulatory updates closely. Strategic moves now could pay off big in the near term.
