CandleFocus Litecoin (LTC) Price Gains Could Reward Over 800,000 Holders Following ETF Filing
2024-10-16
Author: Content Editor
Litecoin's price has increased by 6.70% and reclaimed the $70 level following the announcement that investment firm Canary Capital is seeking a Litecoin exchange-traded fund (ETF) with the SEC. This news has sparked investor interest and could lead to a substantial surge in Litecoin's price. However, data shows that many LTC holders who bought at higher prices are still underwater, but if the price continues to rise, they may be able to unlock profits. Open interest has also increased, indicating rising speculative activity. The positive momentum could potentially take Litecoin's value to $95.60 or even surpass the $100 mark. However, the outcome of the SEC approval for the ETF will have a significant impact on Litecoin's price, and if the chances of approval diminish, the price could fall back to around $63.40.
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