Litecoin Hits Five-Month High Amid ETF Optimism and $100M MEI Pharma Treasury
The post Litecoin Hits Five-Month High Amid ETF Optimism and $100M MEI Pharma Treasury appeared on BitcoinEthereumNews.com.
In brief Litecoin jumped to a five-month high of $128.40 Tuesday morning. Prediction markets are optimistic that a LTC ETF will be approved this year. Last month, MEI Pharma closed a $100 million private placement to transform itself into a Litecoin treasury firm. Litecoin surged to a five-month high of $128.40 Tuesday morning, amid rumors of ETF approval and significant corporate treasury investment. LTC has since pulled back, but is up 5.8% to $123.60 in the past 24 hours and 12.3% in the past week, according to data from CoinGecko—and is up over 41% this month, giving it an overall market cap of $9.4 billion. The odds of a Litecoin ETF being approved in 2025 currently sit at 80%, according to decentralized prediction platform Polymarket. However, on prediction market Myriad (launched by Decrypt’s parent company DASTAN), almost two thirds of users expect an XRP ETF to be approved before an LTC one. Tennessee-based investment firm Canary Capital filed to list an LTC ETF on the Nasdaq on January 15. This was followed less than a month later by filings from Grayscale Investments and CoinShares, though Grayscale applied to list on NYSE Arca. Some promising market adoption figures have also appeared in recent weeks. According to CoinGate, a cryptocurrency payment gateway that processes digital asset transactions for merchants, Litecoin captured the second-largest share of crypto payments on the platform last month—14.5%, just behind Bitcoin and narrowly ahead of USDC. Our July data reveals changes in crypto payment preferences: 🥇Bitcoin leads at 22.9%📈Litecoin climbs as 2nd to 14.5%🥉USDC rises at 14% 💥 TRON enters top 4 at 12.9% Which cryptos will be at the top in August? 🤔 pic.twitter.com/yzGdO8AwV3 — CoinGate (@CoinGatecom) August 4, 2025 Corporate treasuries are pushing prices MEI Pharma, a publicly traded pharmaceutical company, closed a $100 million private placement…
Filed under: News - @ August 5, 2025 10:23 pm