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Litecoin experienced a mini-run, with the price surging above $73 for the first time since July. Over the week, the crypto asset attracted 12% in gains.Litecoin is enjoying a nice mini run, jumping above $73 for the first time since July. This is its first mid-sized breakout from Bitcoin and altcoins since the spring. Two major factors are:First, Litecoin’s transaction volume neared $4 billion this week, its highest level since June 3, 2023.
This spike in both price and engagement indicates a growing interest in Litecoin, driven by its increased network activity and a renewed focus from retail traders.Litecoin, which once held a prominent position among the top 10 cryptocurrencies, now ranks as the 26th largest digital asset with a market cap of $5.41 billion, as per data compiled by CoinGecko. Despite this dip in its ranking, Litecoin appears poised for a comeback.for a Litecoin ETF.
The firm recently filed the first Form S-1 for the same with the US Securities and Exchange Commission . If it secures approval, the ETF will provide direct exposure to Litecoin for both institutional and retail investors. “As one of the longest-running blockchains with 100% uptime since its inception, Litecoin has demonstrated a proven track record of security and reliability with significant enterprise-grade use cases.
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