↑ LTC Coin: Poised For Potential Bull Run Amid ETF Applications and Volume Surge
Litecoin (LTC) could be the next big cryptocurrency to get its own exchange traded fund (ETF), with multiple applications currently in progress....
Analysts are predicting a bullish future for Litecoin (LTC) considering the recent developments and trends in the market. Speculations about the approval of a Litecoin Spot Exchange-Traded Fund (ETF) in the U.S. has brought a new surge of interest, pushing the trading volume up by 250%. This anticipation is based on growing adoption levels similar to that experienced by Bitcoin ETFs.
Although the journey of LTC towards an impressive price milestone seems to experience wobbles due to alternating odds of ETF approval, its price surged by 18%. Even as LTC was characterized as a meme coin, the community remained steadfast with a 78% retention rate. An analysis of derivative volumes indicates a potential bullish trend, hinting at prices potentially reaching towards $100-$120 in the short term. Massive rallies of ALT coins are also predicted during the Santa Claus rally.
On the utility front, Litecoin's transaction volume nearly doubled over the past year, evincing its growing popularity. Furthermore, LTC has witnessed a surge of over 300%, leading to huge profits for miners, outpacing even Bitcoin. Meanwhile, due to its newfound meme coin status, LTC has seen a surge in both retail and institutional interest.
Despite the turbulence, LTC is set for a bullish reversal with a price target of $140. Simultaneously, the on-chain activity is high, suggesting a possible rise to $180. Lastly, LTC long-term holders are hopeful for a price touching $200, akin to the 2020 post-election rally.
LTC Coin News Analytics from Thu, 11 Apr 2024 07:00:00 GMT to Tue, 21 Jan 2025 09:16:36 GMT - Rating 6 - Innovation 5 - Information 8 - Rumor 5