LTC (Litecoin) has fallen 9.68% in the last 24 hours.

Gate News Bot news, on October 17, according to CoinMarketCap, as of the time of writing, LTC (Litecoin) is currently reported at $85.30, falling by 9.68% in the last 24 hours, with a high of $135.56 and a low of $66.26. The 24-hour volume reached $1.18 billion. The current market capitalization is approximately $6.519 billion, a decrease of about $699 million compared to yesterday.

Litecoin is a peer-to-peer internet currency that enables instant, near-zero cost global payments. As an open-source global payment network, Litecoin is completely decentralized and has no central authority. The network is secured by mathematics and gives individuals control over their finances. Compared to mainstream digital currencies, Litecoin offers faster transaction confirmation times and higher storage efficiency. With widespread industry support, volume, and liquidity, Litecoin has become a strong complement to Bitcoin and is a mature medium for commercial transactions.

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, with the trading code LTCC and a fee rate of 0.95%. This 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 the LTC price reflect the market's overreaction to this development and the subsequent profit-taking.

2️⃣ LTC ETF approval expectations rise Despite the uncertainty brought by the U.S. government shutdown, the LTC ETF-related documents have been quite polished, and approval may be “within reach.” This view has been recognized by several industry analysts, further boosting market confidence. However, the short-term price fluctuations indicate that investors still have doubts about the regulatory stance.

3️⃣ ETF Fee Rate Positioning Analysis The 0.95% fee rate of the LTC ETF, although higher than that of spot Bitcoin ETFs, is considered a common level 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.

From a technical perspective, the price of LTC has experienced significant volatility in the short term, falling from a high of $135.56 to a low of $66.26, reflecting the market's sensitive reaction to ETF-related developments. Although the long-term outlook remains positive, investor sentiment is highly volatile in the short term, leading to a substantial price correction. LTC may need a period of consolidation to digest the recent gains and negative factors.

This message is not intended as investment advice; investors should be aware of market volatility risks.