LTC Soars to $120 Amid ETF Speculation and Institutional Investment

Litecoin (LTC) has successfully held the $120 mark following a significant 25% surge, driven by growing institutional interest and heightened expectations for ETF approval. The cryptocurrency is currently trading at $120.50, consolidating its gains after a week of bullish momentum. Key catalysts include Mei Pharma's landmark $100 million investment—the largest institutional LTC purchase in recent history—and an 80% probability of ETF approval as of August 4. Technical indicators further support the positive outlook, with Litecoin's Relative Strength Index (RSI) at 64.75, indicating neutral-to-bullish conditions. This rally underscores the increasing confidence in LTC's long-term potential, particularly as institutional players and ETF prospects continue to shape the market narrative.

Litecoin Holds $120 After 25% Surge as ETF Hopes Drive Momentum

Litecoin trades at $120.50, consolidating gains after a 25% weekly surge fueled by institutional interest and escalating ETF approval probabilities. The rally was catalyzed by Mei Pharma's $100 million investment—the largest institutional LTC purchase in recent history—and an 80% likelihood of ETF approval as of August 4.

Technical indicators reflect bullish momentum, with Litecoin's RSI at 64.75 signaling neutral-to-positive sentiment. The asset has also emerged as CoinGate's second-most-used cryptocurrency for payments, breaking a three-year consolidation pattern and underscoring its utility-driven demand.

Short liquidations totaling $3.89 million on August 5 amplified the upside, demonstrating how derivative markets are reacting to Litecoin's newfound institutional credibility. The convergence of ETF speculation, real-world adoption, and technical breakout suggests a structural shift in LTC's market dynamics.

Litecoin Emerges as a Top Institutional Pick in Crypto’s Next Growth Cycle

Litecoin (LTC) is gaining traction among institutional investors as regulatory clarity in the U.S. crypto sector improves. The digital asset, often referred to as "digital silver," has seen a 37.3% price surge over the past month, driven by its established track record and commodity classification by the CFTC.

MEI Pharma's recent acquisition of 929,548 LTC tokens, valued at over $100 million, underscores growing institutional confidence. The MOVE is part of a broader strategy to diversify reserves into high-liquidity, credible digital assets.

Speculation around a potential spot Litecoin ETF has further fueled optimism. Grayscale's proposal for such a product, coupled with LTC's commodity status, positions it favorably for regulatory approval and institutional adoption.

Stellar (XLM) Leads CoinDesk 20 Rally with 12.3% Surge

The CoinDesk 20 Index climbed 2.8% to 4,044.63, buoyed by broad-based gains across digital assets. stellar (XLM) emerged as the standout performer, vaulting 12.3%, while XRP followed with an 8% advance.

Bitcoin (BTC) proved the sole decliner among the index constituents, dipping 0.3% in a rare underperformance. The rally reflects growing risk appetite among crypto investors as altcoins outpace the market leader.

Traded across multiple global platforms, the CoinDesk 20 serves as a benchmark for institutional crypto exposure. Today's action underscores the rotational nature of digital asset markets, where capital flows rapidly between large-cap tokens.