The ongoing hype associated with permits to the Litecoin exchange fund caused an unusual impulse for LTC. Intoleblock data show that approximately 80% of the addresses in the Litecoin network are profitable, demonstrating a bull impulse.
Intoleblock data analysis
Data show 6.53 million addresses; Approximately 80% of the resettled addresses “in money” or profit. Addresses from losses of money or records of a total of 1.26 million (15.42%). Meanwhile, Litecoin considers the breakership of 366 210, or 4.49%.
It is noteworthy that the profit occurred against the backdrop of increased expectations of the potential launch of ETF Litecoin. As previously reported by U.TODAY, ETF senior analyst at Bloomberg Eric Balchunas claims Litecoin is the next cryptor that received the approval of ETF.
Analysts comments were received after the US Securities and Exchange Commission (SEC) received a repaid supply of the ETF S-1 Canary Capital. Many consider this action as indicating that the SEC is moving to the approval of the ETF product.
Polymarket predicted 54% of the chances of ETF Litecoin, approved by 2025, and 39% of the probability of regulating nod until July 31. Market analysts believe that the possible approval of ETF LTC can lead to rising cryptocurrency prices.
This mood is based on expectations of increasing adoption by institutional investors.
What is next for Litecoin
The prospects for the breakthrough remain relatively high, since most addresses make profit.
Nevertheless, Litecoin is currently faced with strong pressure in his daily schedule. Over the past 24 hours, the price of LTC decreased by 6.9% to trade at the level of $ 126.3. Nevertheless, LTC increased by 22% and 14.5% over the past week and month, respectively. This ascending trend shows that LTC can have a more impressive growth in the short and long term.
Thus, a daily reduction in prices is indicated that Litecoin is consolidated after this year reaches important stages. This means that recovery in a wider market is soon expected to help increase the price and profitability of Litecoin.
