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After a massive 16% increase in just the last day, Litecoin has shocked the cryptocurrency market with a clear bullish breakout. The asset has demonstrated exceptional resilience and positive momentum, separating itself from the larger altcoin market.
Canary Capital is the entity that is currently seeking regulatory approval to launch its Litecoin ETF, and it looks good.
Canary Capital has filed an amended S-1 form for a Litecoin ETF, potentially paving the way for the third cryptocurrency ETF approval in the US, amid leadership changes at the SEC and positive market response.
According to ETF analyst Eric Balchunas, Litecoin, the "silver" to Bitcoin's "gold," is likely to be next in line to get its spot ETF in the US.
ETF analyst James Seyffart has shared that Canary Capital amended the S-1 filing for its Litecoin ETF, a step that suggests increased engagement from the US Securities and Exchange Commission (SEC).
Litecoin price is outperforming the broader crypto market run-up gaining more than 18% in the last 24 hours shooting all the way to $120 levels. The daily trading volume has also skyrocketed by a massive 301% to $1.68 billion suggesting strong bullish momentum moving ahead.
The silver to Bitcoin's gold has decoupled from the rest of the altcoins with a big pump today.
Litecoin price held steady and crossed the important resistance level at $117.30, its highest swing on January 6. It has soared to its highest swing since December 18, and about 140% from its lowest level in 2024.
Canary Capital's Litecoin ETF could receive the Security and Exchanges Commission's approval soon.
As the SEC gears up for a major leadership change, just 3 days before Gary Gensler steps down as SEC chair, all eyes are on the fate of crypto ETFs like Litecoin, XRP, and Solana. Recently, Fox Journalist Eleanor Terrett revealed that Solana ETFs faced a rejection, but Litecoin's chances are soaring.
A Litecoin ETF may be the next cryptocurrency ETF to be approved in the United States given the current circumstances. Bloomberg Senior ETF Analyst Eric Balchunas made this prediction after Canary Capital filed an amended S-1 registration form in relation to its Litecoin ETF proposal.
Bloomberg ETF analyst Eric Balchunas warned that an imminent change in the SEC leadership could shake things up.
Canary Capital filed an amended S-1 form for its Litecoin ETF filing on Wednesday, which might indicate engagement from the SEC.
LTC accumulating bullish momentum combined with the surging whale and trading activity sparks bullish breakout signals.
Binance has extended its loan services, introducing DOGE and LTC as collateral, while adding CGPT to its VIP Loan program to cater to a wider range of users.
Leading cryptocurrency exchange Binance has set off market discussions after issuing a vital announcement on Dogecoin (DOGE), Litecoin (LTC), and ChainGPT (CGPT) tokens. Notably, the crypto exchange revealed on Wednesday that it is adding the abovementioned crypto as new loanable and collateral assets, offering enhanced offerings for users.
Litecoin saw the largest number of transactions, followed by Bitcoin and Ether.
User activity on the Litecoin (LTC) network has declined over the past few days, reaching its 2023 low on Monday. This drop in network usage has coincided with a dip in the LTC token price, which has plummeted by 10% in the past week, falling below the crucial $100 mark.
A hacker briefly gained access to Litecoin's X social media account to fraudulently promote that LTC is now available on the popular smart contract platform Solana (SOL).
When the US Securities and Exchange Commission (SEC) approved the 11 initial applications for spot ETFs last January 2024, it signaled a favorable environment for Bitcoin. The top digital asset's price surged thanks to increasing institutional attention.
Litecoin price continued its downtrend and tested the 100-day moving average as cryptocurrencies plunged. LTC, which has already fallen by 35% from its highest level this year, has more room to fall as the odds of a spot LTC ETF fell on Polymarket, active users dropped, and the coin formed a head-and-shoulders pattern.
Problem already resolved, due to a vulnerability of a secondary account.
Litecoin's X account was hacked to promote a fake Solana-based LTC token, briefly reaching a $27,000 market cap before crashing to $3,400. At the same time, Foresight Ventures' X account was hacked, linked to $500,000 raised through 15 compromised accounts, showing rising security risks.
Security expert Taylor Monahan recommends users conduct a guided self-audit of their X account security settings to prevent a hijack.
