Litecoin rallied to its highest level since January, gaining about 15.65% for the week and roughly 37% in September, as Grayscale’s filing to convert its Litecoin Trust into a spot ETF and a sharp rise in network activity drew traders back to the token. LTC traded near $67.84 on September 24, up 9.68% for the day, after breaking resistance around $60.60 and pushing into the 0.618 Fibonacci retracement level near $67.65. A sustained move above that level could open a path toward the 0.786 Fibonacci retracement at $75.28, according to technical analysis.
The Grayscale filing, submitted on September 11, has become a key catalyst. Derivatives volume surged 71.20% alongside the weekly advance, while the daily chart produced a golden cross as the 50-day moving average moved above the 200-day moving average. The Litecoin Foundation also reported that more than $1 billion in Adjusted Economic Value moved across the network in 24 hours, representing over 17 million LTC changing hands. That metric attempts to isolate meaningful payments by excluding coins returned to senders as transaction change, reinforcing Litecoin’s payment-focused use case rather than purely speculative trading.
The current network activity remained below the year’s $2.51 billion daily peak recorded in May, but it added a fundamental layer to the rally. Traders were also watching Litecoin’s next block-reward halving, expected in July 2027, when mining rewards will fall from 6.25 LTC to 3.125 LTC per block. The combination of an ETF catalyst, stronger onchain usage, improved technical structure, and renewed derivatives interest set Litecoin apart during a broader session pressured by rising bond yields and weaker major cryptocurrencies.
