LTC (Litecoin) fell 3.47% in the last 24 hours.

Gate News Bot news, October 29, according to CoinMarketCap data, as of the time of writing, LTC (Litecoin) is currently priced at $96.45, with a 3.47% fall in the last 24 hours, reaching a high of $106.34 and a low of $90.14. The 24-hour volume has reached $1.815 billion. The current market capitalization is approximately $7.375 billion, a decrease of $265 million compared to yesterday.

Litecoin is a peer-to-peer internet currency that enables instant, nearly zero-cost global payments. As an open-source global payment network, Litecoin is completely decentralized, with no central authority. The network is secured by mathematics and gives individuals control over their finances. Compared to leading mathematical currencies, Litecoin has faster transaction confirmation times and higher storage efficiency. With significant industry support, volume, and liquidity, Litecoin has become a mature medium of commerce, complementing Bitcoin.

Important news about LTC recently:

1️⃣ The first LTC spot ETF successfully listed Canary Litecoin (LTCC) is one of the first ETFs to track the spot price of Litecoin, and it has officially begun trading on Wall Street recently. This marks a further increase in the acceptance of Litecoin in traditional financial markets, providing institutional investors with a new channel for LTC investments.

2️⃣ Competition in the Crypto ETF Market Intensifies In addition to LTC, HBAR and SOL related ETF products were also launched simultaneously, with the three new ETFs accumulating a total trading volume of 65 million dollars on their first day. This reflects the rapid expansion of the cryptocurrency ETF market, with strong demand from investors for diversified crypto asset allocation.

3️⃣ Regulatory environment continues to improve Canary has submitted Form 8-A to the U.S. Securities and Exchange Commission (SEC) to register securities for the Litecoin ETF. This move indicates that regulators are gradually adopting a more open attitude towards crypto assets, which is beneficial for the long-term development of cryptocurrencies such as LTC.

Although the launch of the ETF has brought positive signals for LTC, the price of LTC has still experienced a pullback in the short term. This may be due to the market needing time to digest the response to the new product, and investors are still observing the actual impact of the ETF on LTC. In the long run, the launch of the ETF is expected to bring more institutional funds to LTC, enhancing its market liquidity and recognition.

This message does not constitute investment advice; investors should be aware of market volatility risks.