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Litecoin ($LTC), referred to as Bitcoin's "digital silver," saw a 233% surge in trading volume as short sellers faced heavy liquidations. According to CoinMarketCap data, $LTC trading volumes surged 233% in the last 24 hours to $1.97 billion.
Litecoin increased by more than 13% in the last 24 hours, reaching $129 in a three-day surge from a low of $104 on Aug. 3. This marks one of the sharpest large-cap rallies in the week as traders shifted to legacy altcoins amid rising sentiment and ETF optimism.
The move has crowned $LTC as the largest weekly gainer among the top 100 cryptocurrencies by market cap, with the price up 13.23% in the last seven days. Litecoin has reentered the top 20 and is currently the 19th-largest cryptocurrency, with a market cap of $9.43 billion.
The spike in volume coincided with a sharp move upward, catching bearish traders off guard. The surge triggered significant short liquidations, wiping out millions in leveraged bearish bets. According to CoinGlass data, $3.89 million in short positions were liquidated over the last 24 hours.
The surge of liquidations fueled $LTC's gain as forced buybacks accelerated the price jump.
Litecoin news
In a recent milestone, the Litecoin Network completed its 340 millionth transaction. After reaching 300 million on Jan. 8, 2025, over 12% of all $LTC transactions since 2011 occurred in 2025, indicating increased network usage.
Speculation over a spot ETF is growing, with Bloomberg analysts estimating a 90% chance of approval due to Litecoin's commodity classification. The SEC has extended its review of Grayscale’s Litecoin ETF, pushing the decision deadline to Oct. 10, 2025.
MEI Pharma reported a $100 million Litecoin commitment last month, replicating early Bitcoin treasury movements and providing $LTC a fresh viewpoint as a low-beta treasury asset.