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Litecoin price defied the broader crypto market turbulence on Monday, soaring nearly 7% amid recent advancements. The crypto saw renewed market interest fueled by the odds of an LTC ETF approval gaining weight.
Despite increased bearish price action with Bitcoin price struggling below the $100k mark, the Litecoin price has maintained its bullish momentum by breaking out of its important resistance level in the daily time frame. This suggests an increase in the bullish action for the altcoin.
The uncertainty over the crypto market continues to hover as the prices of major tokens remain within a restricted range. The start of the week was neither bullish nor bearish, displaying the traders being unsure of the next price action. Meanwhile, the market capitalisation is maintaining a declining trend with the resistance lowering every day.
Cryptocurrency prices on Monday, February 10, continued showcasing a fluxing action as the current market sentiment remains uncertain. Bitcoin (BTC) price traded near $97K as the week kicked off, whereas Ethereum (ETH), XRP, and Solana (SOL) mimicked a turbulent action intraday.
The push for crypto exchange-traded funds (ETFs) continues to gain ground as the Chicago Board Options Exchange (Cboe) filed a 19b-4 with the U.S. Securities and Exchange Commission (SEC) to list and trade XRP ETFs from several major asset managers. This development follows the SEC's acknowledgment of Grayscale's filings for Solana (SOL) and Litecoin (LTC) ETFs, marking an important step in the broader acceptance of digital asset investment products.
Polkadot (DOT) joined Litecoin (LTC) as a top performer, gaining 4.8%.
LTC consolidates within a corrective phase, with a potential breakout ahead. A move above $116.26 could confirm a new uptrend, while failure to hold $96.81 will invalidate the assumption.
The SEC has taken a key step toward approving a spot Litecoin ETF, while Solana sees record-breaking growth and Remittix aims to disrupt the $190 trillion payment sector. #partnercontent
A step signals potential approval amid growing expectations for crypto-friendly regulations.
Eric Balchunas defines the move as a small step in the change of leadership.
Grayscale Investments has submitted a request to the SEC to transform its Grayscale Litecoin Trust (LTCN) into an ETP.
The US Securities and Exchange Commission (SEC) has officially recognized the 19b-4 filings submitted by the New York Stock Exchange (NYSE) to list and trade the Grayscale Solana and Litecoin exchange-traded fund (ETF).
The US Securities and Exchange Commission (SEC) has acknowledged two key filings: an amendment for Grayscale's proposed spot Litecoin (LTC) exchange-traded fund (ETF) and a separate request allowing in-kind redemptions for BlackRock's iShares Bitcoin ETF (IBIT), according to Feb. 6 filings.
The Commission acknowledged several applications for crypto exchange-traded funds on Thursday, a move that ties the regulator to a strict timeline for approval or denial.
Crypto industry executives and asset managers expect the Trump administration to usher in a regulatory climate conducive to innovation.
The U.S. Securities and Exchange Commission (SEC) has invited public comments on a proposal to convert Grayscale's Litecoin Trust into an exchange-traded product (ETP). The request follows an official acknowledgment of NYSE Arca's 19b-4 filing, submitted on behalf of Grayscale.
The U.S. SEC asked the public to comment on a proposal for converting Grayscale's Litecoin trust into an exchange-traded product.
Litecoin gains momentum above the $100 mark despite market turmoil. Further, an analyst predicts a potential breakout rally in LTC prices at $110, targeting $129. Amid such bullish chances will Litecoin prolong the rally to $176?
Cryptocurrencies continue to struggle after sharp declines earlier in the week. This sees Bitcoin (BTC) hover below $100,000 and most altcoins battling to hold onto recent gains. However, Litecoin (LTC) and FTX Token (FTT) are among top gainers on February 6, 2025. Here's an update for the crypto market today.
It has been a difficult week for cryptocurrencies as most of them crashed following Donald Trump's decision to impose tariffs on Mexico, China, and Canada. Most of them rebounded after the Mexico and Canada ones were paused on Monday. Bitcoin remains below $100,000, while the market valuation of these coins fell to $3.2 trillion.
TL;DR The New York Stock Exchange (NYSE) has filed to convert the Grayscale Litecoin Trust into a spot Litecoin (LTC) ETF. The application is under review by the U.S. Securities and Exchange Commission (SEC), with public comments being welcomed.
NYSE files to convert Grayscale Litecoin Trust into a spot Litecoin ETF.
Mahe, Seychelles, 5th February 2025, Chainwire
The leading crypto exchange Binance, has unveiled significant updates affecting multiple perpetual contracts, including XRP, NEAR, MEW, and others. Besides, the exchange has also introduced new trading bot services for select spot trading pairs including Litecoin (LTC), TRUMP, and Sonic (S).
