LTC (Litecoin) has risen 2.93% in 24 hours.

Gate News Bot news, September 11, according to CoinMarketCap, as of the time of writing, LTC (Litecoin) is currently priced at $116.26, with a rise of 2.93% in the last 24 hours, peaking at $117.88 and dipping to $109.67. The 24-hour volume reached $719 million. The current market capitalization is approximately $8.869 billion, an increase of $252 million compared to yesterday.

Litecoin is a peer-to-peer internet currency that enables instant, nearly zero-cost payments. It is an open-source global payment network that is completely decentralized, with no central authority. Mathematics ensures the security of the network and gives individuals control over their finances. Compared to leading mathematical currencies, Litecoin has faster transaction confirmation times and higher storage efficiency. With strong industry support, volume, and liquidity, Litecoin has become a complementary commercial medium to Bitcoin.

Important news for LTC recently:

1️⃣ Litecoin Treasury Company renames and changes stock code MEI Pharma, Inc. announced that it will change its name to Lite Strategy, Inc., and effective September 11, the stock ticker will change from MEIP to LITS. This change reflects the company's closer connection to the Litecoin ecosystem, which may enhance investor confidence in LTC.

2️⃣ Grayscale applies to launch LTC spot ETF Grayscale has submitted multiple documents to the U.S. SEC to apply for an ETF that tracks Litecoin. The company plans to convert existing related closed-end trusts into an ETF and intends to list on the NYSE Arca or Nasdaq. This move could bring more institutional investment to LTC, enhancing its liquidity and market recognition.

3️⃣ LTC and other cryptocurrency ETF applications are progressing in sync Grayscale has applied for an ETF for LTC, as well as submitted similar applications for Bitcoin Cash and Hedera. This indicates that large asset management firms are seeking regulatory approval for multiple cryptocurrencies, which could drive the development of the entire cryptocurrency market.

The recent price rise of LTC may be driven by these positive news. However, the SEC's delay in approving certain cryptocurrency ETF applications also reminds investors that regulatory uncertainty still exists. Market participants should closely monitor subsequent regulatory developments and their potential impact on LTC prices.

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