- Litecoin rises 11.2% as address activity peaks; ETF approval odds hit 90%.
- LTC outperformed Bitcoin in February, gaining 25% against BTC’s 17.3% drop.
- LTC bulls target $130 resistance as open interest surges 8.68% to $645M.
Amid the wider recovery in the crypto market, the price of Litecoin (LTC) has risen by 11.2% today, reaching around $127 as blockchain address activity hits new peaks. Despite major altcoins like Ethereum (ETH) suffering a harsh 31% decline in February, LTC demonstrated resilience, finishing 1% in positive territory. Market analysts are confident that LTC can sustain its rally and exceed $200 by April.
LTC ETF Speculation Fuels Optimism and Increased Market Activity
The increase in network activity has primarily been attributed to the rising optimism regarding the approval of Litecoin ETF by the US SEC this year. Bloomberg has estimated the likelihood of such an approval at 90%, significantly surpassing that of the XRP ETF or Solana ETF.
The possible authorization of an LTC ETF indicates an increasing trend in the cryptocurrency market. The achievement of spot Bitcoin and Ethereum ETFs, which have experienced considerable net inflows since their debut in 2024, has created opportunities for more crypto-related investment offerings.
Although an ETF might not generate the same demand as Bitcoin and Ethereum, experts think that even slight inflows could enhance its attractiveness.
Litecoin Outperforms Bitcoin in February Amid Market Downturn
February 2025 emerged as one of the worst months for Bitcoin (BTC), with a 17.3% decrease, while Litecoin concluded 1% higher. According to the analytics platform Santiment, the price of LTC has climbed by 25% compared to BTC over the last month, signaling a dramatic shift in a weakening crypto market.
In light of the strong performance, Santiment points out a recent increase in LTC addresses and an excessively optimistic discussion regarding the altcoin in the past 24 hours. Analysts warn that these elements could indicate a slight price pullback in the near future.
LTC Bulls Face Key Resistance at $130 to Sustain Rally
At the time of writing, the LTC price is up 11% at $127.70, but the bulls must still drive it above the key resistance level of $130 and maintain that position to initiate the next phase of the rally.
According to Coinglass data, the open interest for LTC has increased by 8.68% to reach $645 million. Additionally, the 24-hour liquidations have increased to $2.25 million, out of which $1.90 million pertains to short liquidations.
Market analysts hold varying views, particularly regarding the recent rise in Litecoin’s price despite the overall market decline. Some think that the recent increase in LTC price is due to short liquidations rather than fundamental changes in market conditions. Conversely, CoinCodex data indicates that Litecoin could surge up to $224 by April 2025.
Strained liquidity situations have been the primary cause of recent cryptocurrency market declines and will keep affecting Bitcoin and altcoin trends moving forward. Besides the ongoing increase, a significant catalyst must be present to propel the LTC rally forward.
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