LTC News: Litecoin ETF Approval Odds Jump to 85% After Key DTCC Listing

The Litecoin community is celebrating a major milestone as Canary Capital's listing on the Depository Trust and Clearing Corporation (DTCC) system boosts the approval chances of a Litecoin ETF to 85%. This significant development comes as the race for altcoin ETF approvals heats up in the US, with Ethereum ETF leading the way.

Litecoin ETF Approval Odds Surge to 85% After Canary Capital’s Listing on DTCC

The approval odds for a Litecoin ETF have increased to 85% following Canary Capital's listing on the Depository Trust and Clearing Corporation (DTCC) system. This marks a significant milestone in the race for more altcoin ETF approvals in the US, with Ethereum ETF being the first to be approved by the SEC in May 2024. The Litecoin Foundation celebrated the listing, noting that the DTCC is a crucial component of global financial markets, processing trillions of dollars in securities transactions daily.

Litecoin Transactions Surge to $9.6B Daily Amid U.S. ETF Listing Hype: Santiment

Litecoin’s network activity has experienced a significant surge, with daily transaction volumes reaching $9.6 billion. This increase has been attributed to the growing excitement over the potential listing of Litecoin exchange-traded funds (ETFs) in the U.S. According to Santiment's report, the surge in network utility has played a crucial role in boosting Litecoin’s (LTC) market capitalization by 46% between February 2 and February 19. The uptick marks a 243% rise from late August when Litecoin processed approximately $2.8 billion in daily transactions. LTC’s price has also doubled since early November, outperforming the broader cryptocurrency market.

Litecoin (LTC) Transactions Surge 200%, Market Capitalization Climbs 46% - Potential Rally to $200?

Litecoin (LTC) has gained significant attention due to the increased interest around a potential exchange-traded fund (ETF). Over the past couple of months, the LTC network has experienced a surge in activity, with market capitalization and transaction volume recording massive upticks. Santiment reported a 46% rise in Litecoin's market capitalization between February 2 and February 19, currently standing at $10.13 billion. The growth is attributed to the rising network utility of Litecoin. Investors are now wondering if the price will follow the upward trend.