Litecoin breaks through key resistance at $100: ETF listing and concentrated holdings push for a $300 target

The price of Litecoin (LTC) has risen again by 3% today, successfully breaking through the $100 resistance level, with a weekly increase of over 10%. Under the influence of the favorable information that the Canary Capital Litecoin ETF will officially launch on October 28, the daily trading volume of LTC surged by 70% to $1.1 billion. Meanwhile, data from the Litecoin Foundation shows that wallet addresses holding more than 100 LTC now control 67% of the total supply, with the concentration of holdings continuing to rise, providing strong support for the price.

ETF Listing Ignites Market: Capital Layout Behind 70% Surge in Volume

With the Canary Capital Litecoin ETF officially starting trading on October 28, the Litecoin market is witnessing a new round of capital attention. This significant milestone event has pushed the LTC price back above the key psychological level of 100 USD, with daily volume increasing significantly by 70% to 1.1 billion USD, indicating that institutional funds are actively positioning themselves.

Market prediction platform Polymarket shows that the probability of the spot Litecoin ETF approval has skyrocketed from 62% on October 25 to the current 99%. This sharp change in probability reflects a significant shift in market sentiment, with investors' confidence in Litecoin gaining regulatory approval greatly enhanced.

The Litecoin Foundation pointed out that cryptocurrency addresses holding at least 100 LTC (worth approximately $10,000) have been consistently making systematic purchases over the past period. This ongoing accumulation behavior indicates that savvy funds are positioning themselves in advance for the possible approval of an ETF.

Holdings concentration reaches a new high: 67% of the supply is controlled by large holders

According to the latest data from the Litecoin Foundation, wallets holding 100 LTC or more control 67% of the total supply. This statistic covers 68 million eligible addresses worldwide, highlighting that the distribution of Litecoin supply is concentrating among long-term holders.

“Any Litecoin address holding 100 LTC or more is included in this data,” the foundation stated. This change in supply structure is often seen as a positive sign, as an increase in long-term holders means reduced market selling pressure, creating favorable conditions for a healthy price rise.

The rise in the concentration of holdings and the expectation of an ETF listing form a dual favourable information, together constituting the fundamental support for Litecoin's current pump. When a large amount of circulating supply is locked in the hands of long-term investors, even a relatively small increase in demand can significantly drive up the price.

Technical analysis points to higher targets: $140 in the short term & $300 in the long term

Cryptocurrency analyst CryptoBull360 pointed out that Litecoin shows new strong signs on the weekly chart, suggesting a potential bullish reversal. The analyst has identified $140 as a key short-term target and added that if the weekly close can decisively remain above this level, it may trigger further pumps.

(Source: TradingView)

Technical analysis shows that the Litecoin price chart forms a similar trajectory to the upward trend of Zcash (ZEC). Although the price scales are different, the price charts from 2017 to the forecast target for 2026-2027 indicate significant similarities in their technical patterns.

According to CoinGape's LTC price prediction, a similar target may be achieved in November. CryptoBull360 believes that such a trend will indicate a bullish continuation towards the $300 barrier in the long term. Another analyst, CryptoBullet, also supports this view, emphasizing the similarity in technical patterns between the two cryptocurrencies.

Market Structure Optimization: The Evolution from Trading Medium to Store of Value

The recent rise of Litecoin is not only driven by short-term events but also reflects a profound shift in its market role. As the concentration of holdings increases and institutional participation rises, Litecoin is evolving from a purely payment token to a value storage asset.

This shift is significant in the cryptocurrency ecosystem. When an asset is widely held rather than frequently traded, its price volatility tends to decrease, leading to a healthier market structure. The current performance of Litecoin is a vivid embodiment of this trend.

Unlike the rise in 2017, which was primarily driven by retail speculation, the current upswing is a result of institutional accumulation, product innovation, and ecological development working together. This diversified driving force makes the foundation of this round of rise much more solid.

Industry Impact and Future Outlook: The Interconnection Effect of Privacy Coins

The strong performance of Litecoin is generating a ripple effect across the entire cryptocurrency market, particularly in the privacy coin sector. As LTC breaks through key resistance levels, investors are beginning to look for alternative assets with similar technical characteristics or market positions.

The sector rotation effect has not been uncommon in history, but the uniqueness of the current environment lies in the deep participation of institutional investors. Unlike traditional bull markets mainly driven by retail investors, the influence of institutional funds has significantly increased in this cycle, which may change the operating rules of the market.

Looking ahead, whether Litecoin can hold the $100 level and further attack the $140 target will become an important touchstone for testing its market position. A successful breakthrough will open up upward space for the entire privacy coin and payment token sector, while failure may trigger a short-term correction.

Conclusion

Litecoin is at a critical technical and fundamental turning point. The official trading of the ETF, a record high in holdings concentration, and a technical breakthrough with multiple favourable information have created a resonance, providing strong momentum for price rise.

For investors, the current market position of Litecoin reflects the trend of maturation in the cryptocurrency industry - transitioning from a purely speculative asset to an investment target with practical applications and institutional recognition. Although this transition may slow down short-term volatility, it lays a solid foundation for long-term steady growth.

With the continuous development of the cryptocurrency market, whether Litecoin can stand out in this competition relying on its technical advantages, community support, and institutional recognition is worth the market's continued attention. However, it is certain that the current trend has provided valuable cases for observing the evolution of the cryptocurrency market.