Litecoin sees $9.6B daily transactions amid ETF buzz
Litecoin's (CRYPTO:LTC) daily transaction volume has hit $9.6 billion, a 243% surge in five months, amid growing anticipation for a Litecoin ETF.
Santiment reported that Litecoin's market capitalisation increased by 46% between February 2 and February 19, reflecting heightened investor interest.
The surge is attributed to increasing network utility, processing $9.6 billion in daily transactions over the past seven days.
Since early November, LTC prices have doubled, surpassing the broader crypto market's 42% gains.
Enthusiasm surrounds a potential Litecoin ETF, following the SEC's approval of Bitcoin (CRYPTO:BTC) ETFs 13 months prior.
The SEC acknowledged a rule change for listing the CoinShares spot Litecoin ETF on Nasdaq on February 19.
Canary Capital’s Litecoin ETF was listed on the Depository Trust and Clearing Corporation (DTCC) system under the ticker LTCC on February 20.
The Litecoin Foundation noted this as a "key preparatory step" for the fund's potential launch.
Bloomberg ETF analyst Eric Balchunas cautioned that the listing doesn't guarantee approval or immediate trading but indicates issuer preparations.
Analysts still estimate a 90% chance of approval this year.
LTC prices spiked around 8.5% following the DTCC listing, climbing from $127 to $138 before a slight pullback on February 21.
The asset has risen almost 30% in two weeks, outperforming Bitcoin.
On February 18, 2025, trading volume reached 1.2 million LTC.
The Litecoin/Bitcoin (LTC/BTC) trading pair also saw increased activity, reaching a high of 0.0036 BTC on February 19, 2025.
At the time of reporting, the Litecoin (LTC) price was $135.64.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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