Litecoin's price is currently on the rise, with LTC nearing the $150 mark. This increase follows reports of significant whale activity and the application for a spot ETF for LTC.

Key Highlights

• Litecoin Price Surge: The current price upward trend towards $150 is primarily attributed to substantial whale accumulations.
• Whale Accumulation: Recent data indicates that over 250,000 LTC has been acquired by whales in the past week.
• ETF Application: Nasdaq has submitted a 19b-4 form to the SEC for a spot Litecoin ETF, marking crucial progress in the regulatory approval process.

Litecoin Image

The crypto market appears stable, with Litecoin leading the gains while Bitcoin and Ethereum struggle to maintain their positions. With LTC surpassing $115 and making headlines, there’s increasing speculation that it could be the third cryptocurrency after Bitcoin and Ethereum to secure ETF approval from the SEC.

Whale Accumulation Fuels LTC Price Rally

The increase in whale activity has been notable, as data reveals a strong buying spree among large-scale investors during the past week.

Whale Activity

Nasdaq Files 19b-4 for Litecoin ETF

Amidst the heightened whale activity, Nasdaq has filed an official request with the SEC to trade the Canary Litecoin ETF, further enhancing anticipation in the market.

Nasdaq Filing

This filing is a significant step forward as the SEC reviews the application, which could potentially result in the launch of the first spot Litecoin ETF in the U.S. If successful, Litecoin will join the ranks of Bitcoin and Ethereum, marking a significant milestone for the crypto asset.