Litecoin Targets $250 as MEI Pharma’s $100M Deal Ignites Crypto Rally
Litecoin's price surge isn't just hype—it's got institutional fuel. MEI Pharma's nine-figure acquisition sent shockwaves through crypto markets, and LTC bulls are charging.
Why $250 matters
The 'digital silver' to Bitcoin's gold just got a heavyweight endorsement. When traditional pharma money floods into crypto-adjacent deals, even Wall Street dinosaurs take notice. Suddenly, a 30% rally seems conservative.
Market mechanics at play
Liquidity's flooding into altcoins as institutional FOMO meets retail speculation. Trading volumes spiked 150% post-announcement—because nothing excites bagholders like a fresh narrative.
Greed vs. reality check
Sure, the charts look bullish. But remember: every 'moon mission' starts with a press release and ends with leverage liquidations. Litecoin might dodge that fate... if it can actually deliver utility beyond being Charlie Lee's retirement fund.
- Litecoin is trading at $123.32, up 14.08% in a week, with $2.41B volume and $9.39B market cap.
- MEI Pharma buys 929,548 LTC at $107.58 each, marking the first public company to add Litecoin to its treasury.
- Analysts eye a potential $250 target if LTC breaks key resistance and holds above the $64 support.
Litecoin (LTC) has surged 14.08% in the past week to $126.13, boosted by MEI Pharma’s landmark $100M purchase, the first public company to add LTC to its treasury, as it approaches a key technical breakout zone.
At the time of writing, Litecoin is trading at $122.45, supported by a decisive 24-hour volume of $2.41 billion and a market capitalization of $9.39 billion.
MEI Pharma Adds Litecoin to Corporate Treasury
The recent price jump seems driven by a major corporate buy. According to on-chain and market coverage, crypto analyst Santolita shared that MEI Pharma has purchased 929,548 LTC, averaging out at a rate of $107.58 per coin, a stunning $100 million treasury buy.
MEI Pharma acquired 929,548 $LTC at $107.58 per coin, a $100M treasury move
This makes MEI Pharma the first public company to adopt Litecoin as a strategic reserve pic.twitter.com/vReOstiDQt
The acquisition is the first public company to legally utilize Litecoin under its strategic reserve, a first-time indicator reflecting a growing institutional backing for the cryptocurrency.
Litecoin Approaches Major Technical Breakout Zone
Technically, More Crypto Online emphasized the LTC’s pricing structure. The analysts point out that LTC is seeking to breach a significant resistance barrier. As long as purchasing remains strong and the figure is retained above $64, a principal support region, LTC can climb towards $250 in the medium term.
However, analysts caution that Litecoin’s rise since 2018 has tended to be non-impulsive and, as a result, the current configuration is weak. A significant Bitcoin top could nonetheless cause a reversal of LTC’s momentum, and ongoing observation will be needed by Investors.
Currently, the combination of corporate adoption, technological superiority, and steady demand from investors is standing its ground for the bulls, and the market will be eager to find out if this surge can keep up its momentum.
Litecoin Builds Leverage Despite Lower Volume, Bullish Setup Ahead
Open interest has increased by +1.05% to $1.11B, and the increased positions entering the market make sense. Trading volume fell -16.54% to $1.86B, showing declining spot activity. The two together indicate that the traders are adding leverage quietly even when market activity is thin. It is a likely setup for a larger MOVE when momentum arises.
OI-weighted funding rate is 0.0142%, showing evenly matched positioning. LTC funding rate has been overall positive, hinting at gentle bullish pressure. Short dips below the zero level are brief moments of bearish dominance. The market is bullish on the whole without overheating signs.
