Litecoin (LTC) has faced quite a correction in the daily charts. The asset is down 5.5% in the last 24 hours but is up in the other time frames. LTC’s price has rallied 6.2% in the weekly charts, 19% in the 14-day charts, 8.7% over the previous month, and 82.6% since February 2024.
Also Read: XRP Surges 7% As Brazil Will Launch World’s First Spot ETF
Litecoin ETF Developments Pushing Prices
LTC displayed quite a strong performance over the last few days. The rally is likely due to positive development in the LTC ETF arena. The SEC has started its review process for several crypto-based ETFs. The financial watchdog has acknowledged CoinShares’ filings to list XRP and Litecoin ETFs on Nasdaq. The SEC will open a 21-day public comment period for the filings before deciding on the approval of these ETFs.
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According to a report by Bloomberg ETF analysts Eric Balchunas and James Seyffart, Litecoin has the most chances of getting an ETF. The duo concluded that LTC has a 90% chance of an ETF. The SEC has also acknowledged 19b04 filings for the asset. The financial regulator also views LTC as a commodity.
Our official alt coin ETF approval odds are out. Litecoin leads w 90% chance, then Doge, followed by Solana and XRP. We are only doing for 33 Act $IBIT-esque filings. But def poss to see futures or Cayman-subsidiary type 40 Act stuff get through as well. https://t.co/JSaNnifjbu
— Eric Balchunas (@EricBalchunas) February 10, 2025
How High Will The ASset Go This Weekend?
The cryptocurrency market seems to be recovering today. Bitcoin (BTC) has reclaimed the $97,000 price level. While many assets are rallying in the daily charts, LTC has faced a correction.
According to CoinCodex, LTC will continue its descent over the next few days. The platform anticipates the asset to dip to $118.15 on Sunday, Feb. 23.
Also Read: Dogecoin (DOGE) On Path To Surge 234%To Hit $0.84: Here’s When
There is a possibility that LTC will pick up steam over the weekend. If BTC continues its upward trajectory, other assets could experience a rally. How the market performs is yet to be seen.
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