Litecoin (LTC) Jumps 46%

Litecoin (LTC), the world’s 18th largest cryptocurrency by market cap (GC), has surged 46% in two weeks, boosted by growing institutional interest.

Daily trading volumes on the network reached $9.6 billion, up 242% from the past six months, according to Santiment data.

The hype around exchange-traded funds (ETFs) has played a major role in the rally.

Bloomberg analysts have given a 90% chance of the SEC approving a Litecoin ETF, outperforming currencies like Dogecoin (DOGE) and Ripple (XRP).

Canary Capital has also filed to launch an LTC-backed ETF, which could boost institutional investment in the cryptocurrency.

Market expectations are for the price to reach $140-170 if the momentum continues.

Currently, Litecoin is trading at $127, up 4% in 24 hours and more than 94% over the past year, outperforming the overall cryptocurrency market.