Litecoin Surges Over 11% on ETF Hopes, Merchant Adoption

Litecoin (LTC) has surged over 11% in the past 24 hours, surpassing the $123 mark and becoming the largest weekly gainer among the top 100 cryptocurrencies. This rally is driven by growing investor focus on major altcoins, increasing anticipation of a potential spot ETF approval, and rising commercial adoption, including MEI Pharma’s recent $100 million LTC acquisition to diversify its treasury reserves. The U.S. SEC has delayed its decision on Grayscale’s spot ETF application until October, but Bloomberg analysts estimate a 90% chance of approval, supported by Litecoin’s regulatory clarity as a commodity recognized by the CFTC. Trading volume and open interest have surged sharply, signaling strong market confidence, while technical indicators suggest LTC is approaching a critical resistance zone between $124 and $131 that could trigger a major breakout. Analysts forecast a potential upside of up to 185% if LTC breaks above this level, possibly reaching $320 to $350. Overall, Litecoin’s combination of structural adoption, regulatory tailwinds, and technical momentum is attracting significant institutional interest and fueling optimism for continued price gains.