Litecoin (LTC) has never been the loudest name in the crypto space. No constant hype, no daily social media talks. But sometimes, steady growth speaks louder.
Despite lacking the fanfare of other cryptocurrencies, Litecoin (LTC) has been making significant strides that are attracting attention, according to Santiment.
Over the past few weeks, several notable developments have occurred. Litecoin’s market capitalization has surged by 46% in the last two weeks. In terms of network activity, the blockchain was processing $2.8 billion in daily transaction volume in late August 2024. However, this figure has since soared to $9.6 billion per day in the past week.
One factor driving this growth is the discussion surrounding exchange-traded funds (ETFs). CoinShares, a well-known financial firm, has filed to list a Litecoin ETF on Nasdaq, and the Securities and Exchange Commission (SEC) has already begun its review process.
While approval is not guaranteed, market analysts estimate a 90% probability that the SEC will grant permission by the end of 2025, considering the current regulatory landscape.
Bitcoin was the first cryptocurrency to obtain ETFs, which occurred in early 2024. Now, Litecoin is being closely observed as a potential next-in-line candidate.
If approved, an ETF would enable investors to gain exposure to LTC through a regulated stock market, eliminating the need to manage private keys, crypto wallets, or use centralized offshore exchanges. This development would be particularly significant for institutional adoption.
In the broader context, if Litecoin succeeds in obtaining an ETF, it could pave the way for other altcoins, such as XRP, Solana, and potentially even Chainlink, to follow suit. This would mark a gradual but substantial step in the maturation of the crypto market.
Despite not being the most flamboyant cryptocurrency, Litecoin is currently making a statement through its calculated and sustained growth, positioning itself for a possible major breakthrough.
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