Litecoin Network Hits Record Hashrate, Privacy Wallet Launch Planned

Litecoin (LTC) has shown resilience and growing investor confidence amid recent market volatility, highlighted by a partnership with AmericanFortress to launch a privacy-focused wallet using MimbleWimble Extension Blocks, aiming to enhance transaction confidentiality. The network strength is underscored by a record hashrate of 3.5 petahash per second, reflecting heightened miner commitment and increased security. Despite a 6.1% value decline over the past month, LTC's futures open interest surged to a weekly high, driven largely by investors on Binance, signaling anticipation of upward price movement, supported by the potential approval of an exchange-traded fund (ETF) by the U.S. SEC. Technical analysis further supports a bullish outlook, with Litecoin posting a 5% weekly gain, positive momentum indicators like MACD turning bullish, and relative strength index (RSI) in neutral territory, suggesting room for price appreciation. Collectively, these factors position Litecoin as a strong contender in the crypto space, with practical developments and favorable market sentiment driving optimism for its near-term and long-term growth.