Litecoin (LTC) Jumps 14.6% Overnight, Defying Market Trends

Ranked 20th by market capitalization, the digital silver appears to be reclaiming its place in the spotlight.

Litecoin (CRYPTO: LTC) price surged overnight as the digital silver defied market trends with an impressive 14.6% rally, pushing its price to $119.

Ranked 20th by market capitalization, LTC appeared to be reclaiming its place in the spotlight.

A Year of Growth

Over the past year, Litecoin had gained 71.6%, making it one of the better-performing assets in the crypto space. While it still traded 70% below its all-time high from May 2021, recent developments hinted at renewed interest.

Speculation surrounding a potential Litecoin exchange-traded fund (ETF) was a significant catalyst, attracting attention from retail and institutional investors.

A key driver behind this surge was the activity of whales and sharks — wallets holding at least 10,000 LTC.

According to on-chain data, these large holders had accumulated an additional 250,000 Litecoin since January 9, signaling strong confidence in the asset. This accumulation mirrored patterns observed in early December, which also led to significant price movements.

Litecoin price surges over 14% overnight

As the market surged, Litecoin’s performance stood out from other altcoins. In just 11 hours, its market capitalization jumped by 16.1%, showing signs of decoupling from broader market trends.

This independence could further bolster investor confidence, positioning Litecoin as a standout choice in a crowded crypto market.

The Road Ahead

While LTC’s price surge had certainly reignited interest, sustaining this momentum would depend on key developments such as the rumored ETF approval and continued whale activity.

For now, Litecoin’s resurgence highlighted its resilience and potential as a staple in the cryptocurrency ecosystem.

As the market watched closely, Litecoin’s next moves could redefine its position among the top crypto contenders.