Litecoin (LTC) is among the top-performing major cryptocurrencies today, recording a 9.5% gain and climbing above $130. The move marks the highest price level for LTC in several weeks, following a mostly flat month of trading around the $115 range. In late September, the price briefly dropped below $110, but otherwise remained relatively stable until this week’s breakout.
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ETF Developments Draw Attention
The recent surge comes amid renewed speculation around a potential spot Litecoin exchange-traded fund (ETF). On October 7, Bloomberg ETF analyst Eric Balchunas highlighted that Canary Capital had filed an amendment to its ETF proposal for Litecoin, adding key final details including a 0.95% management fee and the ticker “LTCC”. Balchunas noted that these updates are typically the last step before launch, although the ongoing U.S. government shutdown may delay formal approval.
Despite the uncertainty, the filing has sparked investor interest. Another Bloomberg analyst James Seyffart also commented that Litecoin’s ETF application appears to be “at the goal line”. Prediction markets reflect similar optimism – Polymarket currently shows a 95% probability of Litecoin ETF approval before the end of 2025.
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Network Usage Remains High
In parallel with the ETF news, the Litecoin Foundation posted that the network had processed over 3 million transactions in roughly two weeks. The network’s hashrate is holding near 3.4 PH/s, indicating that mining activity remains strong.
These on-chain metrics suggest that network usage has not slowed down, even while price action remained subdued over the past month.
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Outlook
Litecoin’s recent breakout is supported by both renewed ETF interest and consistent on-chain activity. While the timing of a potential ETF launch remains unclear due to regulatory delays caused by the government shutdown, investor reaction suggests the filing has reintroduced optimism around LTC.
