Litecoin Price Jumps 20% In 24 Hours: Why Is LTC Going Up?

Zinger Key Points
  • Litecoin is trading 20% higher adding to its monthly gains of 65% as optimism surrounds a proposed Litecoin ETF.
  • Analysts set ambitious targets, with some eyeing $233–$280 as the next price zone.

Litecoin LTC/USD has surged 20%, following news of possibly being included in a crypto index ETF and wider market optimism around altcoins.

CryptocurrencyPrice    Market Cap24-Hour Trend7-Day Trend
Litecoin LTC/USD$121.50$9.14 Billion+20%+24.5%
XRP XRP/USD$2.39$135.8 Billion+24.7%+61.7%
Hedera HBAR/USD$0.2374$9.25 Billion+23%+68.5%

Trader Notes: Pseudonymous trader CryptoBullet on Sunday highlighted Litecoin’s attempt to break out, identifying the $233–$280 range as the next significant target zone.

Veteran trader Peter Brandt speculated on whether Litecoin could "pull another XRP," referencing its potential to gain dominance in a competitive market.

Another analyst described Litecoin as the “best version of the white paper,” emphasizing its strong fundamentals and potential for substantial growth.

Community News: The Litecoin Foundation reported that Litecoin is the top cryptocurrency for payments on BitPay over the past six months, ahead of Bitcoin and Ethereum.

The Litecoin Foundation noted on its X account that the altcoin is top crypto of choice for payments based on Bitpay transactions for the last six months. BTC and ETH are second and third.

A recent proposal by Hashdex Nasdaq Crypto Index U.S. ETF includes Litecoin among the assets eligible for inclusion, further boosting investor confidence.

Read Next: 

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!