Litecoin and Dogecoin experienced significant hash rate increases, reaching all-time highs, driven by increased mining profitability. A mining company’s report highlighting threefold profit gains from mining LTC and DOGE compared to BTC fueled this surge.
Litecoin (LTC) has soared over 7% in the last 24 hours, becoming the top gainer in the cryptocurrency market. This surge is fueled by Canary Capital’s filing for an exchange-traded fund (ETF) that tracks the price of Litecoin. The proposed ETF would allow investors to gain exposure to LTC’s price movements without directly purchasing the cryptocurrency. This move comes just a week after Canary Capital filed for a similar ETF tracking XRP, further highlighting the growing interest in crypto-focused investment vehicles.
CryptoKeying has launched a series of new cloud mining plans to make cryptocurrency mining accessible to everyone. These plans allow users to mine popular cryptocurrencies like Bitcoin and Litecoin without the hassle of managing hardware, offering a low-barrier, high-return investment opportunity.
Despite a recent decline in value, Litecoin may be poised for a bullish turnaround, according to cryptocurrency analytics firm Santiment. The firm observed a significant drop in the number of small traders holding Litecoin, indicating a potential capitulation that could lead to a market reversal.
