Litecoin (LTC) Price Rallies 13% on Renewed ETF Approval Hopes, Can It Hit $150?

Litecoin prices have rallied by as much as 13% over the last 24 hours to hit a 30-day high of $139.40 – according to data from CoinMarketCap.

Litecoin price soared today by as much as 13%, hitting a 30-day high of $139.40 amid renewed hopes of Litecoin ETF approval and a rallying open interest rate that just hit a 4-year high at $800 Million.

The 12th most popular digital currency saw its price rally by as much as 13% over the last 24 hours to hit a 30-day high of $139.40 – according to data from CoinMarketCap.

At the time of writing, the coin is trading for $136.50, up 8.05% over the last seven days, and has risen more than 105% since hitting lows of $67.32 in December.

The coin’s daily trading volumes are also up by more than 65% to reach $1.93 Billion.

Over the last 30 days, Litecoin price has moved within a range of $96.02 – lows and $139.40 highs.

The coin’s bullish price action today may be attributed to the renewed hopes of Litecoin ETF approval.

The ETF approval debate was triggered by Eric Balchunas, a senior analyst at Bloomberg who shared a post on X (formally Twitter) expounding on thoughts he has publicly shared before arguing that Litecoin has the highest chances of approval.

In the post, Balchunas stated that the odds of a Litecoin ETF being approved in 2025 have soared to 90%.

He further states that the coin has higher chances of approval than Dogecoin, Solana, and Ripple – even though the SEC has acknowledged receipt of all their ETF filings.

The last time a crypto ETF was approved was in June 2021, when the SEC Greenlit a Bitcoin futures ETF. Since then, several applications have been filed, but none have been approved.

However, with the recent appointment of Gary Gensler as SEC Chair and his pro-crypto stance, there is renewed optimism that crypto ETFs will finally be approved.

Litecoin’s bullish price action today was also triggered by a report that open interest in the coin had hit a new 4-year high.

Data from CoinGlass shows that the open interest for the digital asset has rallied from the lows of $180 Million six months ago to more than $800 Million today – a level last breached in early 2021 and just before the last bull market.

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