Litecoin Rebounds With 14.6% Overnight Surge Amid Speculation Around ETF and Whale Activity

Litecoin (LTC) has defied market trends with an astonishing 14.6% overnight surge, driving its price up to $119 and rekindling hopes of a remarkable turnaround for the asset. Once a top-tier cryptocurrency, Litecoin’s remarkable rally has propelled it back into the spotlight.

Over the past year, Litecoin has demonstrated a remarkable 71.6% growth, making it one of the better-performing assets in the crypto space. While it still lingers 70% below its all-time high from May 2021, recent developments have sparked renewed interest. Speculation surrounding a potential Litecoin exchange-traded fund (ETF) is believed to be a significant catalyst, drawing in attention from retail and institutional investors alike.

The asset’s remarkable overnight surge can largely be attributed to the activity of whales and sharks—wallets holding at least 10,000 LTC. According to on-chain data, these large holders have accumulated an additional 250,000 Litecoin since January 9, indicating a strong conviction in the asset. This accumulation mirrors patterns observed earlier in December, which also led to substantial price movements.

Litecoin’s recent performance has set it apart from other altcoins, as its market capitalization has decoupled and jumped by 16.1% over the past 11 hours. This independence could further bolster investor confidence, positioning Litecoin as a standout choice in a crowded crypto landscape.

While LTC’s price surge has rekindled interest, sustaining this momentum will depend on key developments such as the rumored ETF approval and continued whale activity. For now, Litecoin’s resurgence highlights its resilience and potential as a staple in the cryptocurrency ecosystem. As the market watches closely, Litecoin’s next moves could redefine its position among the top crypto contenders.

Source: nulltx.com