Litecoin [LTC] is currently experiencing a downward trend, with a trading price of $127.97 following a slight 0.46% decrease in the last 24 hours, as per CoinMarketCap data.
Despite this decline, market sentiment remains positive as significant Litecoin whales have sparked speculation through a notable increase in purchases.
Accumulation of 1 Million LTC Tokens
Noteworthy crypto expert Ali Martinez has pointed out that close to 1 million LTC tokens were acquired in the past fortnight, hinting at a possible bullish direction.
Interestingly, this development aligns with recent news related to the listing of Canary Capital’s LTC ETF on the Depository Trust & Clearing Corporation (DTCC), further boosting investor confidence.
The surge in whale accumulation has fueled optimism among Litecoin enthusiasts, showcasing heightened buying interest despite the market’s overall volatility.
Recent Litecoin Updates
According to data from Polymarket, the likelihood of a Litecoin ETF gaining approval by 2025 was at 85%. Furthermore, ETF analyst Eric Balchunas from Bloomberg raised the approval odds to 90%.
However, he emphasized that while the DTCC listing indicates readiness for a potential launch, it does not ensure regulatory clearance.
With these favorable odds, Litecoin joins the league of altcoins like Solana [SOL], Dogecoin [DOGE], and Cardano [ADA], all positioning themselves for possible ETF approval in 2025.
This trend suggests a possible wave of altcoin ETFs in 2025, which could reshape the market dynamics and offer more avenues for individuals to engage with cryptocurrencies.