Litecoin Price Surges Over 30% as Institutional Demand Increases
Litecoin (LTC) has experienced a bullish trend, rising over 30% in two weeks to around $135 as of February 19, 2025. Key points include:
- Fully diluted valuation is approximately $10.2 billion.
- 24-hour average trading volume is about $1.8 billion.
- Confirmed a bullish breakout above the $100 resistance/support level.
- Potential rally if it consistently closes above $135, targeting between $175 and $240 based on Fibonacci Retracement levels.
- Low correlation with Bitcoin price at 0.12.
Litecoin ETF Approval
The U.S. SEC has expedited the approval process for spot crypto ETFs, recently acknowledging CoinShares' filing for a Litecoin ETF. NASDAQ has also filed to list and trade shares of this ETF.
LTC Fundamentals
Litecoin ranks as the third largest digital asset using proof-of-work consensus. Current metrics include:
- Total hash rate of approximately 2.38 PH/s.
- Mining difficulty at about 79.31 (M).
- Over 7.9 million on-chain holders; 78% have held LTC for more than a year.
- 49% of LTC supply is held by large holders, indicating fair distribution.
There has been a notable increase in whale transactions, from 1,266 on February 15 to about 2,160, reflecting rising institutional interest amid broader market corrections.