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- Litecoin hashrate has surged by 30% over the past month.
- Grayscales LTC total holding has sharply increased since 2024 February.
Litecoin (LTC) has captured market attention amid significant surge in network activity. It has experienced a notable rise in its hashrate during these times when new Litecoin ETFs are being introduced.
Notably, Litecoin price has remained stable around the $100 mark. At press time, LTC price was trading at $113.50, noting a decline of over 1.20% in the past 24 hours.
Its market cap stood at $8.56 Billion, ranked 20th in the overall crypto market. The total supply of Litecoin was 84 Million at press time.
Litecoin Price Jumps as Network Hashrate Hits New ATH
Litecoin’s hashrate peaked at 2.24 PH/s, marking an all-time high (ATH) which was a show of steady growth since early 2022, accelerating in late 2024.
The hashrate surpassed 1 PH/s by mid-2023, then surged past 1.5 PH/s in late 2024. This sharp increase indicated greater mining participation and network security along with enhanced miner trust.
Notably, Litecoin network has seen a gigantic rise of over 30% in hashrate since January. Moreover, this metric has nearly doubled in the last four months.
The persistent growth of Litecoin indicates miners are actively join the network, thus demonstrating Litecoin operates at its peak perfection.
Monochrome Seeks to Bring Regulatory Approval to Litecoin Investment
Amidst the significant growth in Litecoin’s hashrate, asset manager Monochrome submitted an application seeking regulatory approval to launch its new Monochrome Litecoin ETF (LTCC) on CBOE Australia.
In case of successful ETF approval, it would put Monochrome in a position to operate three crypto-based funds including its Bitcoin (IBTC) and Ethereum (IETH) funds.
The proposed Litecoin ETF provides Australian investors with regulated access to Litecoin representing a similar investment opportunity to US spot Bitcoin ETFs.
The positive response from the financial regulator will establish Litecoin as a safe investment platform.
Institutional Interest Grows as Grayscale Expands LTC Holdings
Grayscale’s LTC holdings rose from 1.4M in February 2024 to over 2.1M by January 2025. This massive accumulation by Grayscale reflected Litecoin’s increasing confidence. The holdings surpassed 1.6M in March, reaching 1.9M by mid-2024.
Grayscale steadily added more holdings at each stage, as patterns observed from historical periods.
The rapid surge began at a time when institutional investors started showing interest. Amidst the speculation regarding Litecoin ETF approval, short term price volatility may be seen ahead.
Litecoin Price Analysis: Key Levels to Watch
For the past few weeks, Litecoin price has remained stable above the 50 day EMA mark and stalls around the $120 hurdle.
According to a recent post by InvestingHaven on X, Litecoin ETFs might attract $580 Million inflows. However, the current price action conveyed that, LTC price stayed above the 61.8% Fibonacci support zone and remained in a steady uptrned.
If it breaks the $132 hurdle, a sharp upward movement could be seen which could pave the way toward $150 ahead.
However, a break below the $97 mark would change the trend and a significant decline could be seen next.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
