Summary
- Litecoin (LTC)'s market capitalization has surged by 46%, gaining market attention.
- According to Bloomberg, there is a 90% probability that the Litecoin spot ETF will be approved within this year.
- Analysis suggests that Litecoin ETF approval could increase the likelihood of ETF launches for other altcoins.
Litecoin (LTC) has been gaining attention in the market recently due to expectations of ETF approval.
According to Santiment on the 21st (local time), Litecoin's market capitalization increased by 46% from February 2nd to 19th, and daily trading volume reached $9.6 billion over the past 7 days, indicating a significant increase in network utilization.
This surge is attributed to expectations for a Litecoin spot ETF, with Bloomberg forecasting a 90% probability of approval within this year.
Regarding this, Santiment analyzed, "The crypto-friendly stance of a potential Trump second administration is also cited as a factor increasing the likelihood of ETF approval. If the Litecoin ETF is approved, it could accelerate the institutional adoption of the cryptocurrency market as other altcoins like XRP, Solana (SOL), Chainlink (LINK), and Cardano (ADA) may also see increased possibilities for ETF launches."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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