Grayscale Litecoin Trust, a crypto investment vehicle, has raised $2.3 million through a private placement of 242,900 new shares. This brings the total number of shares issued and outstanding to 24.1 million. The announcement of the private placement caused the price of Litecoin (LTC) to rally, reaching a new monthly high of $130. The rally may be attributed to market reaction to the upcoming US presidential inauguration and speculation around the approval of a spot LTC Exchange Traded Fund (ETF). LTC trading volume surged by 300% following the announcement, and large holders have increased their positions. Analysts suggest that LTC could break the Fib 0.786 and potentially reach the $150 territory. Some analysts even predict that the asset could surge to $200.



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