Litecoin has had a mini-run that has seen the crypto asset rise 12% to $73.

This is the first notable breakaway from Bitcoin and altcoins since the spring.

Is Litecoin poised to rally further?

According to the latest analysis from Santiment , two key factors appear to be fueling Litecoin’s bullish trend.

First, Litecoin transaction volume has approached $4 billion this week, the highest since June 3, 2023. Second, social dominance is also on the rise, with 1.08% of all cryptocurrency discussions now related to Litecoin, the highest since April 1, 2024.

This jump in price and activity is indicative of growing interest in Litecoin, driven by increased network activity and renewed attention from retail traders.

Along with the price surge, Litecoin celebrated its 13th anniversary on October 7, having seen a record 77 million transactions this year.

Litecoin, which once ranked prominently among the top 10 cryptocurrencies, is now ranked 26th among the largest digital assets with a market cap of $5.41 billion, according to data compiled by CoinGecko. Despite this drop in rankings, Litecoin appears poised for a comeback.

The driving force behind the current momentum is potential institutional demand, which prompted Canary Capital Group to file for a Litecoin ETF. Canary Capital Group is a newly formed digital asset-focused investment firm founded by Stephen McClurg, the former co-founder of Valkyrie Funds.

The firm recently filed its first Form S-1 for the same with the U.S. Securities and Exchange Commission (SEC). If approved, the ETF will provide direct access to Litecoin for both institutional and retail investors.

Speaking about LTC’s potential for institutional adoption, Canary Capital told Fox Business that:

“As one of the longest-running blockchains with 100% uptime since its inception, Litecoin has demonstrated a proven track record of security and reliability with significant enterprise-grade use cases. With its strong foundation, Litecoin continues to play a leading role in the broader cryptocurrency ecosystem, which Canary believes could make it attractive to a wider range of institutional investors.”

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