LTC (Litecoin) rose 1.43% in the last 24 hours.

Gate News Bot news, on November 5th, according to CoinMarketCap data, as of the time of writing, LTC (Litecoin) is currently priced at $87.14, with a rise of 1.43% in the last 24 hours, reaching a high of $101.76 and a low of $80.10. The 24-hour volume has reached $1.028 billion. The current market capitalization is approximately $6.665 billion, with an increase of $93.8 million compared to yesterday.

Litecoin is a peer-to-peer internet currency that enables instant, almost zero-cost payments. As an open-source global payment network, Litecoin is fully decentralized and has no central authority. Mathematical algorithms protect the network's security, allowing individuals to control their finances. Compared to mainstream cryptocurrencies, Litecoin has faster transaction confirmation times and higher storage efficiency. With widespread industry support, volume, and liquidity, Litecoin has become a mature commercial medium that complements Bitcoin.

Important news about LTC recently:

1️⃣ The first Litecoin spot ETF successfully listed The Canary Litecoin ETF (stock code LTCC) was officially listed and began trading on NASDAQ on October 28, becoming the first U.S. spot ETF for Litecoin. This marks a further rise in Litecoin's acceptance in traditional financial markets, providing institutional investors with a new investment channel for LTC.

2️⃣ ETF debut performance is stable On the first day of its listing, the trading volume of LTC reached 1.38 million USD, with a net asset value of 969,000 USD. The net asset ratio of LTC (the ratio of market capitalization to the total market capitalization of LTC) is 0.01%. There was no net inflow or outflow on the first day, indicating that the market is cautious about the new product and needs time to observe and adapt.

3️⃣ Competition in the Crypto ETF Market Intensifies The spot ETF products for Hedera and Solana were also launched concurrently with the LTC ETF. The simultaneous launch of various cryptocurrency ETFs reflects the diversified development trend of the crypto asset market and indicates that the demand from institutional investors for diversified crypto asset allocation is on the rise.

Although the launch of the ETF has brought positive signals for LTC, the price fluctuations of LTC remain significant in the short term. This may be due to the market taking time to digest the reaction to the new product, and investors are still assessing the actual impact of the ETF on LTC. In the long term, the launch of the ETF is expected to attract more institutional funds to LTC, enhancing its market liquidity and recognition, but the specific effects still need further observation.

This message is not intended as investment advice; investors should be aware of market volatility risks.