The broader digital currency ecosystem is undergoing an intensive rebound, with Litecoin (LTC) leading the altcoin rebound. At press time, Litecoin’s price changed hands for $135.57, up by 10.56% in the past 24 hours, per data from CoinMarketCap. This uptrend standard is beginning to show up in the community as the combined market cap is up 0.68% to $3.16 trillion.
Litecoin takes lead
It is quite unusual for Litecoin to lead market rallies, especially after a broad-based route across the board. The key performance metrics for the coin are positive, as it has now advanced to become the 12th largest coin on the market. With its current outlook, it has outperformed the top 20 digital currencies in daily growth trends.
Beyond the 10.56% jump in price overnight, LTC has also extended its growth in the past seven days to 15.44%. Unlike altcoins like Solana (SOL), with an intense 30-day drawdown of over 36%, Litecoin has maintained 10% growth month-to-date (MTD).
Litecoin has also outperformed Bitcoin (BTC) and Ethereum (ETH), both of which are up by 0.43% and 1.94%, respectively. With the bullish rebound on the broader market, LTC bulls may take their chances in a bid to reclaim the top 10.
LTC price rally justified
Litecoin has been in relative cool-off mode over the past few months. Unlike coins like XRP, which has registered a 129% rally in the past 90 days, Litecoin boasts only 50.75%, per CoinMarketCap data.
The reason behind its latest price rally might be tied to its associated exchange-traded fund (ETF). The Litecoin ETF product from asset managers like Canary Capital has one of the highest odds of approval on the market at 90%.
As such, investors appear satisfied with the coin’s future prospects, triggering a buy-in trend that might see the coin retest the $150 resistance level in the long term.
