Why Litecoin Is Popping Off This Week

Litecoin LTC/USD is trading higher some 12.3% to $69.10 over the trailing week amid recent, broader crypto sector strength. Several altcoins are gaining Friday, mirroring Bitcoin’s roughly 2% session increase. The surge comes after Thursday’s significant net inflow of nearly $79 million into Bitcoin spot ETFs, which has sparked a broader rally in the cryptocurrency market and sustained five days of upward momentum.

The inflow into Bitcoin ETFs reflects increased confidence from institutional investors. This confidence can bolster the market’s overall outlook, encouraging retail and other institutional investors to diversify their investments into other cryptocurrencies, including Litecoin.

Litecoin is also known for its strong community support. During periods of broader market rallies, Litecoin often attracts investors looking for well-established altcoins.

Read Also: Coinbase Unveils ‘One-Stop’ Crypto App To Simplify User Experience

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What's Going On With Crypto Friday?

Overall, $1.31 billion worth of value was traded in U.S. spot bitcoin funds on July 11. Despite the recent inflows, trading volumes remain significantly lower than in March, when they exceeded $8 billion on several days.

U.S. issuers are still awaiting approval from the Securities and Exchange Commission for their latest amended registration statements for spot Ethereum ETFs….Read More