Litecoin (LTC) has rebounded from a October low of $51 to trade above $100, driven by a convergence of ETF developments and enhanced privacy features. ETF approvals are a key catalyst, with Bloomberg's ETF specialist revealing that several spot ETFs, including the Litecoin ETF by Canary Funds, have been approved and are scheduled to begin trading on NASDAQ. Journalist Eleanor Terrett explained that a special regulatory mechanism allows automatic approval 20 days after the S-1 filing, even during government shutdowns. Additionally, T. Rowe Price has filed for an Active Crypto ETF with the SEC, explicitly naming Litecoin as an eligible commodity, signaling growing institutional recognition.
Despite these positive headlines, LTC's price has remained stable, fluctuating between $98 and $105, reflecting market caution as traders await concrete proof of the ETF's impact. However, forecasts from Polymarket indicate a 99% probability of ETF approval by the end of 2025, which could serve as a bullish catalyst. Prominent LTC supporter Master believes Litecoin is on the verge of a powerful uptrend, pointing to a long-term symmetrical triangle pattern that may break out after years of consolidation.
On-chain metrics paint a positive fundamental picture: the average transaction value on the Litecoin network recently exceeded $80,000, the highest level in three years, indicating a rise in large-scale transfers. Simultaneously, Litecoin's hashrate hit a new all-time high of approximately 3.34 PH/s, strengthening network security and miner participation. The Mimblewimble Extension Blocks (MWEB) upgrade enables confidential transactions without increasing fees or slowing processing speed, with the total MWEB balance reaching 260,000 LTC. Analysts suggest this could trigger a Zcash-like rally, positioning Litecoin as a potential 'privacy ETF' coin.
Litecoin's utility in crypto payments is reinforced by its low transaction fees (below $0.0007) and ability to handle up to 56 transactions per second, far exceeding current daily loads. During Bitcoin's congestion from October 2023 to October 2024, LTC efficiently managed increased transactions with minimal cost, highlighting its practicality. With over 14 years of uninterrupted operation, decentralized mining, and no founder's stash, Litecoin is emerging as a reliable medium for everyday transactions, backed by organic adoption and institutional moves.
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