Litecoin transaction volume surged amid excitement over the US ETF listing

The price of LTC has doubled since early November, outperforming the broader cryptocurrency market

21.02.2025 - 14:00

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What’s new? Litecoin network activity has surged, with daily transaction volumes reaching $9,6 billion, driven by growing excitement around potential Litecoin exchange-traded funds (ETFs) listed in the United States. According to a February 21 report from network analytics platform Santiment, the surge in network utility played a key role in Litecoin’s (LTC) market capitalization, increasing by 46% between February 2 and February 19.

The change marks a significant increase since late August, when Litecoin processed about $2,8 billion in daily transactions, showing a 243% climb in just five months.

What else is known? The price of LTC has doubled since the beginning of November to $134, outpacing the broader cryptocurrency market, which is up about 42% over the same period. Investor enthusiasm has increased amid developments surrounding the proposed Litecoin ETF.

The US Securities and Exchange Commission (SEC) accepted for review applications for rule changes on February 19 for the CoinShares Spot Litecoin ETF, which will be listed on Nasdaq.

A day later, the Depository Trust and Clearing Corporation (DTCC) listed Canary Capital’s proposed Litecoin ETF under the ticker “LTCC,” signaling preparations for a potential market debut. DTCC’s participation is significant given its important role in processing trillions of dollars in daily securities transactions.

The Litecoin Foundation emphasized that a DTCC listing would be a “key preparatory step” for the fund’s launch, though it does not guarantee approval. Bloomberg ETF analyst Eric Balchunas spoke out, warning that while a DTCC listing is promising, it does not guarantee immediate approval or trading. However, he noted that analysts still estimate a 90% probability of approval this year.

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