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"Litecoin ETF Buzz Drives Price Surge; Grayscale Launches Bitcoin Miners ETF"

Coin WorldThursday, Jan 30, 2025 4:03 pm ET

1min read

Litecoin Price Aims to Break 2-Month Barrier as ETF Proposal Gains Momentum

Litecoin (LTC) has seen a significant surge in price, rising by 4.18% to reach $128.01, driven by growing optimism surrounding the potential launch of a Litecoin ETF. The excitement was sparked by Canary Capital's ETF filing, with Litecoin founder Charlie Lee noting the increasing institutional demand for the cryptocurrency. Additionally, whale activity on the network has surged, with daily transactions surpassing $2.85 billion, indicating strong interest from large investors. This surge coincides with Litecoin's record-high hash rate, reflecting solid network security and miner participation.

Technological advancements, such as the implementation of the MimbleWimble Extension Block (MWEB), are enhancing Litecoin's privacy and scalability. Social media engagement has also risen significantly, with dominance metrics climbing from 0.3% to 2.9%, indicating a boost in community involvement. From a technical standpoint, Litecoin's Relative Strength Index (RSI) stands at 57.04, suggesting potential for further growth. Additionally, positive MACD divergence and stable Bollinger Band movement point to consistent upward momentum, collectively underscoring Litecoin's growing influence in the crypto market.

Meanwhile, Grayscale has launched the Bitcoin Miners ETF (MNRS), offering investors regulated exposure to Bitcoin mining companies through the NYSE Arca. The fund tracks the performance of the Bitcoin Miners Index, which evaluates global Bitcoin mining firms. These companies generate revenues from mining operations, blockchain ventures, and payment streams from mining-related software and hardware products and services. Investors can now participate in the Bitcoin mining industry through this ETF without holding Bitcoin directly.

Grayscale maintains its ETF through passive management strategies, adapting to changes in the Bitcoin mining sector. As the price of Bitcoin increases, mining companies experience an increase in revenue, providing investors with indirect financial advantages based on Bitcoin market movements. The growing acceptance of cryptocurrencies will lead investors to structured investment options, including Grayscale's MNRS ETF, to gain access to Bitcoin mining.

In contrast, BlockDAG is set for a major launch with 10 CEX listings, while Litecoin gains momentum through ETF speculation and technological progress. BlockDAG plans to list its coin on

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