Litecoin (LTC) Price: Breaks $100 as New ETF Brings $1 Billion in Daily Volume

TLDR

• Litecoin price jumped 3% on October 28, crossing above $100 resistance with weekly gains exceeding 10%
• Daily trading volume spiked 70% to $1.1 billion as Canary Capital’s Litecoin ETF began trading on Nasdaq
• Wallets holding 100 LTC or more now control 67% of total supply, showing accumulation among long-term holders
• Polymarket odds for spot Litecoin ETF approval jumped from 62% to 99% in just three days
• Analysts target $140 in the short term, with potential moves toward $300 longer term

Litecoin price climbed 3% on October 28, pushing back above the $100 level. The move came as the Canary Capital Litecoin ETF started trading on the Nasdaq.

Daily trading volume for LTC surged 70% to reach $1.1 billion. The volume increase reflects heightened interest following the ETF launch.

The Canary Litecoin ETF went live using an alternative approval process. The fund used a Form 8-A filing that allows automatic effectiveness after 20 days.

This approval method bypassed traditional SEC review processes. The launch occurred during the fourth week of the U.S. government shutdown.

Litecoin extended its weekly gains to over 10%. The cryptocurrency traded above $199 on Monday before settling around $100.

The Litecoin Foundation reported that addresses holding 100 LTC or more now control 67% of total supply. This represents approximately 68 million addresses with minimum balances of $10,000.

The Foundation described this as a steady accumulation trend among long-term holders. The data shows supply distribution continues to tighten.

Market Sentiment Shifts

Polymarket data showed approval odds for a spot Litecoin ETF reached 99%. These odds jumped from 62% on October 25.

The three-day surge in probability reflected growing market confidence. Traders responded to the ETF developments with increased buying activity.

Litecoin ranks as the 29th largest cryptocurrency by market value. The asset gained 3.6% on Monday as multiple crypto ETFs prepared to launch.

The Canary HBAR ETF and Bitwise Solana Staking ETF also became effective on Monday. All three funds began trading on Tuesday.

Grayscale plans to convert its closed fund into the Grayscale Solana ETF on Wednesday, October 29. The timing represents an expansion of crypto investment products available to U.S. investors.

Technical Outlook

Crypto analyst CryptoBull360 identified $140 as a key short-term target for Litecoin. The analyst noted renewed strength on the weekly chart.

A decisive weekly close above $140 could signal further upside. CryptoBull360 suggested this move might lead toward $300 longer term.

Another analyst, CryptoBullet, observed similarities between Litecoin’s price chart and Zcash’s trajectory. The comparison showed overlapping price action patterns from 2017 through projected targets in 2026-2027.

The Canary ETF launch used the NYSE and Nasdaq’s certification of Form 8-A filings. These filings allow fund issuers to register securities under the Securities Exchange Act of 1934.

The funds met generic listing standards the SEC adopted in September for commodity-based trusts. Issuers modified their applications with language allowing automatic effectiveness without SEC intervention if deadlines were missed.

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