LTC News: Litecoin Soars on Prospect of ETF Launches
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Litecoin has been experiencing a remarkable surge in value recently, fueled by the anticipation of two significant exchange-traded fund (ETF) launches. Here's a closer look at the developments and their impact on the cryptocurrency's market performance.
Litecoin Soars Amid Hype for Upcoming $LTC ETF Launch
Litecoin has experienced a significant surge in value amidst the excitement surrounding Canary Capital’s upcoming launch of a $LTC exchange-traded fund (ETF). The US Securities Exchange Commission (SEC) is also reviewing Coinshare’s proposal for a Litecoin ETF on Nasdaq, further boosting the coin's value. As a result, Litecoin is shining green across all charts, with its market cap currently valued at over $10 billion and having spiked by over 46% from February 2 to 19. The weekly trading volume has also peaked by nearly 5%. Investors are excited about the easy access to the crypto realm that Litecoin provides, especially with the upcoming launch of the $LTC ETF.
Bitcoin Cash (BCH) Faces Resistance as Crypto Whales Eye Litecoin ETF
Bitcoin Cash price rose 6% before encountering a 4% rejection from the $330 level on Friday. Transaction size for BCH has decreased by 67% since February 3rd, whereas Litecoin's transaction size increased by 35% in the same timeframe. This divergence indicates a significant shift in investor focus towards Litecoin, possibly due to ETF buzz. The SEC's ETF confirmations have revived demand in the altcoin market, leading to gains for Bitcoin Cash this week.
Crypto Markets Lose Over $100B, BTC Slumps to $95K After Bybit Hack
The cryptocurrency market lost over $100 billion in value as Bitcoin (BTC) tumbled by over $4,000 in hours after Bybit suffered a major hack. Altcoins such as Litecoin (LTC), PepeCash (PEPE), Aave (AAVE), Manta Network (MNT), and others also saw significant losses. BTC faced enhanced volatility at the start of the week, dropping to $93,000, its lowest since the February 3 crash, before recovering slightly to $96,000.
