Daily transactions in the Litecoin network have reached $ 9.6 billion a day, because the emitters of the stock exchange fund make moves to mention their proposed ETF Litecoin in the United States.
Litecoin market capitalization (LTC) increased by 46% from 2–19 February, showing increased interest in investors, Reported Santiment on February 21. He added that part of this height comes from “its strong increase in network usability, which in the last 7 days processes $ 9.6 billion in a daily size of the transaction.”
At the end of August, Litecoin had about $ 2.8 billion in the size of the transaction, so the current levels are an escalate of 243% in five months. In addition, LTC prices have doubled from the beginning of November, exceeding the wider cryptographic market, in which the profits in the same period amounted to 42%.
Litecoin daily transaction volume vs price. Source: Single
“There are clearly growing emotions around the potential ETF Litecoin, 13 months after approval of the first ETF Bitcoin by SEC,” said Santiment.
Securities and stock exchanges committee Published Confirmation of the change in the rule to mention Coinshares, noticing ETF Litecoin on NASDAQ on February 19.
Meanwhile, in the ETF ETF Litecoin Canary Capital system he was noticed in the Depositor Trust and Clearing Corporation (DTCC) system as part of the Ticker LTCC on February 20.
DTCC is a key part of global financial markets and processes billions of dollars in securities transactions every day, explained The Litecoin Foundation, which added: “This is a key preparatory step for the potential launch of the fund.”
Source: Litecoin Foundation
ETF Bloomberg analyst, Eric Balchunas, warned that this does not mean that the product is approved or ready to start trade, “but shows that the issuer is preparing preparations for that time.” He added that the chances of analysts for approval this year were still 90%.
Related: The analyst claims that ETF Bitcoin used for “massive market manipulation” – is he right?
LTC prices increased by about 8.5% in response to the DTCC list, climbing from the lowest level from 127 to 138 USD before a tiny withdrawal of February 21.
The assets have increased by almost 30% in the last two weeks, exceeding Bitcoin (BTC), which remained closely connected because he returned to five characters at the beginning of February.
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