Litecoin Surges 12% In A Month Outpacing Bitcoin, Ethereum, XRP: What's Driving The Rally?

Litecoin LTC/USD has gained 12% over the past month, significantly outperforming Bitcoin, Ethereum and XRP, all of which are down. Traders are now eyeing further upside, especially with the ETF narrative gaining traction.

Trader Notes: Crypto trader Javon Marks highlights Litecoin's strong breakout on high volume, predicting an upside target of $354.36 (+168%) if momentum holds.

Crypto trader Daan Crypto Trades sees $140 as the key resistance level for Litecoin, stating that a breakout could trigger a major move up. He notes that while the ETF narrative is driving the rally, actual inflows might be limited once it goes live.

Statistics: IntoTheBlock data shows Litecoin's large transaction volume having dropped 1.3%, while daily active addresses grew 1.1%. Transactions greater than $100,000 increased from 1,939 to 2,054 in a single day. Currently, 78% of Litecoin holders are in profit.

Coinglass data shows Litecoin liquidations in the past 24 hours at $5.2 million, with $3.2 million in long liquidations implying traders' belief in the long-term potential of the altcoin. Open interest is up by 3% to $662 million in a single day.

Community News: Litecoin announced its own blockchain-based domain extension, ".LTC," in partnership with Unstoppable Domains and the Litecoin Foundation. This move aims to simplify transactions, replace complex wallet addresses with user-friendly names and expand Litecoin's presence in the broader crypto ecosystem.

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