LTC (Litecoin) rose 3.10% in 24 hours.

Gate News Bot news, on October 20, according to CoinMarketCap data, as of the time of writing, LTC (Litecoin) is currently priced at $95.13, with a rise of 3.10% in the last 24 hours, reaching a high of $101.28 and a low of $84.55, with a 24-hour volume of $587 million. The current market capitalization is approximately $7.271 billion, an increase of $219 million compared to yesterday.

Litecoin is a peer-to-peer internet currency that enables instant, nearly zero-cost 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 mainstream digital currencies, Litecoin has faster transaction confirmation times and higher storage efficiency. With substantial industry support, volume, and liquidity, Litecoin has become a complementary medium of exchange to Bitcoin.

Important recent news about LTC:

1️⃣ Canary Capital submits LTC spot ETF amendment Canary Capital has submitted an S-1 amendment for the Litecoin (LTC) spot ETF, with the trading code LTCC and a fee rate of 0.95%. This marks the final preparation stage before the official launch of the LTC ETF product, bringing positive expectations to the market. However, the recent significant fluctuations in LTC prices reflect the market's overreaction to this development and subsequent profit-taking.

2️⃣ Expectations for LTC ETF Approval Heat Up Despite the uncertainty brought by the U.S. government shutdown, the LTC ETF-related documents are quite complete, and approval may be “just around the corner.” This view has been echoed by several industry analysts, further boosting market confidence. However, short-term price fluctuations indicate that investors still have concerns about regulatory attitudes.

3️⃣ ETF Fee Rate Positioning Analysis The 0.95% fee rate of the LTC ETF, while higher than that of the spot Bitcoin ETF, is considered a common level for emerging and niche ETF products. This pricing strategy reflects the market's recognition and demand for crypto asset ETFs like LTC, but it may also prompt investors to think about its long-term competitiveness.

From a technical perspective, the LTC price has experienced significant volatility in the short term, dropping from a high of $135.56 to a low of $66.26, reflecting the market's sensitive reaction to ETF-related developments. While the long-term outlook remains positive, short-term investor sentiment is quite volatile, leading to a considerable price correction. LTC may require some time to consolidate and digest the recent rise and negative factors.

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