Key Points
- Litecoin’s price rose to $99 in October with the launch of the first Litecoin ETF in the U.S.
- Stake.com, a major crypto gaming platform, handles nearly 16% of daily Litecoin transactions.
The price of Litecoin closed at $99 in October, marking a 3% gain. This coincided with the launch of the U.S.’s first Litecoin ETF. Canary’s LTCC fund started trading on October 28, becoming one of the latest cryptocurrency derivatives assets listed for regulated trading in the U.S.
Data from SoSoValue indicated that LTCC’s cumulative total net inflow reached $719,970, with $802,260 in total traded value and $1.64 million in total net assets as of October 31.
Comparison of ETF Performance
When compared to other newly-launched funds, Litecoin’s ETF performance lags behind. Solana’s fund amassed $199 million in inflows and $502 million in net assets, while Hedera’s ETF recorded $44 million in inflows and $45.93 million in assets. The correlation between Litecoin and Bitcoin (BTC) seems to have restricted demand for the LTC ETF. Net outflows of $191 million on Friday resulted in Bitcoin ETFs’ total withdrawals exceeding $1 billion in the last three days of trading.
Despite slow ETF adoption, Litecoin continues to attract demand in online payment ecosystems. According to a report shared by community analyst bogdanoffig on X (formerly Twitter), Stake.com, a major crypto gaming platform, handles nearly 16% of daily Litecoin transactions.
Litecoin’s Role in Payment Systems
Litecoin’s official X account reposted the statement, further showing that Litecoin records average daily on-chain transactions of around 200,000, boosted by the Stake.com payments integration. The median Litecoin transaction fee remains below $0.0005, positioning LTC as one of the cheapest and fastest networks for high-volume microtransactions. This usage aligns with the broader trend of altcoins regaining ground in payment utility markets, particularly in regions adopting low-fee payment rails.
Litecoin’s recent rally towards $99.00 reflects improving sentiment after weeks of turbulence. The daily chart shows LTC/USD trading just below the upper Bollinger Band (at $101.28) with the middle band at $95.39, marking this zone as a key short-term support base.
The Parabolic SAR dots above the price at $109.97 indicate a lingering bearish sentiment. The Relative Strength Index (RSI), trending upwards to 49.5, shows sellers ceding control as market momentum approaches neutral territory.
The MACD line has crossed above the signal line (-2.30 vs -3.17), signaling a potential bullish reversal. With the histogram now turning positive, the LTC price appears poised for an attempt to reclaim the $100 psychological mark, followed by resistance at $109.97. Conversely, failure to hold the $95 support level could trigger a mild retracement toward $89.50, aligning with the lower Bollinger Band.
