Litecoin Surges 17% as Whales Accumulate on Spot ETF Hopes

Litecoin (LTC) prices have surged around 17% over the past 12 hours, propelling the cryptocurrency to an intraday and 4-week high of $118 during early trading in Asia on Thursday morning. However, LTC topped $140 during the December crypto rally and still remains down 72% from its May 2021 all-time high of $410. The momentum has also been driven by hopes over approval of a spot Litecoin exchange-traded fund in the United States now that SEC chair Gary Gensler will be out of the picture. On Jan. 15, Canary Capital filed an amendment to its S-1 registration form with the securities regulator for such a product.

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