Coin That Underpins Dogecoin Becomes Market’s Biggest Gainer— Litecoin Pops 7% After Filing Of Spot ETF Application
Posted On October 16, 2024
Litecoin (CRYPTO: LTC) topped the biggest gainers list Tuesday after digital asset trading and management firm Canary Capital filed for an exchange-traded fund (ETF) tracking the proof-of-work (PoW) cryptocurrency’s price.
What happened: The coin, created from the hard fork of Bitcoin (CRYPTO: BTC) in 2011, was up over 7% as of this writing, outperforming all the cryptocurrencies in the market, including Bitcoin itself.
LTC experienced a whopping 149% increase in trading volume over the last 24 hours, as buying pressure catapulted the coin to its highest value in two and a half months.
The rally was spurred by an S-1 filing submitted by Canary Capital on Tuesday—a prerequisite for issuers to file to offer …
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