LTC (Litecoin) has risen 1.31% in the last 24 hours.

Gate News Bot news, on October 13, according to CoinMarketCap data, as of the time of writing, LTC (Litecoin) is currently priced at 97.55 USD, with a 1.31% rise in the last 24 hours, reaching a maximum of 135.56 USD and a minimum of 66.26 USD. The 24-hour volume is 1.337 billion USD. The current market capitalization is approximately 7.453 billion USD, an increase of nearly 96.3 million USD compared to yesterday.

Important news about LTC recently:

1️⃣ Canary submits Litecoin spot ETF amendment Canary Capital has submitted an S-1 amendment for the Litecoin (LTC) spot ETF, setting the trading code as LTCC and a fee rate of 0.95%. This move 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 may reflect an overreaction from the market to this progress and subsequent profit-taking.

2️⃣ LTC ETF approval expectations heat up Despite the uncertainty brought about by the U.S. government shutdown, the LTC ETF-related documents are quite mature, and approval may be "just around the corner." This view has been endorsed by multiple industry analysts, further boosting market confidence. However, the 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, although higher than that of the spot Bitcoin ETF, is common 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 consider its long-term competitiveness.

The sharp fluctuations in LTC prices reflect the market's sensitive reaction to the progress related to ETFs. Although the long-term outlook remains optimistic, short-term investor sentiment is quite volatile, leading to significant price corrections. On the technical side, LTC may need a period of consolidation to digest the recent rise and negative factors.

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