Litecoin Hits Five-Month High on ETF Hype and MEI Pharma Treasury Deal

Litecoin (LTC) surged past $128.40 on Tuesday, reaching a five-month high, driven by growing speculation around exchange-traded fund (ETF) demand and a large-scale treasury acquisition by pharmaceutical firm MEI Pharma [1]. This upward movement marked a significant reversal from months of sideways trading, showcasing renewed investor interest in the third-largest cryptocurrency by market capitalization. Over 24 hours, Litecoin rose 5.8% to $123.60, with cumulative gains of 12.3% in the week and 41% in the month, pushing its market cap to $9.4 billion [1]. Analysts link MEI Pharma’s $100 million private placement to its plan to act as a Litecoin treasury company, which is seen as the main reason for the Litecoin price surge [1]. Polymarket puts the chance of a Litecoin ETF approval by 2025 at 80%, though XRP could arrive first. Beyond ETF news, payment data shows actual usage, with Litecoin taking 14.5% of crypto transactions last month [1]. The Litecoin price surge is not slowing yet.

In contrast, the price of HBAR, the native token of Hedera Hashgraph, declined by approximately 20% in the same period. This sharp drop was attributed to profit-taking and waning market enthusiasm following earlier bullish momentum. Technical indicators like a declining MACD, RSI, and weak CMF point to higher selling pressure. The slip below the 20-day EMA on August 1 adds weight to the short-term downtrend [1]. HBAR now trades around $0.2491, slightly under the 20-day EMA at $0.2446 [1]. While the Hedera price outlook could recover with rising TVL, growing adoption, and ETF discussions, the market mood remains muted [1]. For now, the Hedera price outlook stays uncertain as traders look for signs of either a deeper drop or a rebound [1].

Meanwhile, the presale for Cold Wallet, a privacy-focused blockchain solution, continued to gain traction, nearing a total funding target of $6 million. The project has attracted attention from both retail and institutional investors due to its emphasis on security, decentralized governance, and scalable infrastructure. With over 24 hours of trading activity contributing to the fundraising momentum, the platform is well-positioned to complete its initial capital goal ahead of the scheduled token launch [1]. Cold Wallet (CWT) is now finding its place among the top trending crypto names in the market. The price shifted from $0.007 to $0.00998 in Stage 17, while the launch price is fixed at $0.3517 [1]. This gives early buyers a chance for nearly 4,900% returns. Almost $5.9 million already raised shows this is a project with real momentum, not just another pitch [1]. One factor that sets Cold Wallet apart is its launch method. Rather than building from zero, it secured Plus Wallet in a $270 million acquisition. That instantly brought in more than two million users [1]. These users collect CWT simply by doing familiar tasks like swapping, paying gas fees, and moving between crypto and fiat. There is no extra training or new tools needed. The utility is already part of the system, and so is the demand [1]. Another feature driving attention is its cashback rewards. Users receive up to 100% back on gas fees and 50% on swaps and bridges. This works without lockups or hidden terms. The referral program benefits both sides, with 10% in CWT going to the referrer and 5% to the new user [1]. While many projects are still talking about future plans, Cold Wallet is already delivering [1].

The mixed performance of these assets highlights the growing diversification in the crypto market, where traditional investment flows and technological innovation are increasingly shaping price movements. Litecoin’s recent rally appears to be supported by a broader trend of corporate adoption, particularly in sectors looking to hedge against inflation and currency volatility. However, the decline in HBAR suggests that market participants remain selective, focusing on projects with clear use cases and strong technical fundamentals. The Cold Wallet presale reflects a growing appetite for projects offering enhanced security and financial privacy, particularly in a regulatory environment that is still evolving. As the presale moves closer to its $6 million milestone, the project may see increased institutional interest, especially if it meets its key development milestones and continues to demonstrate strong community support [1].

Source: [1] Litecoin Reaches $128.40, HBAR Slips 20%, & Cold Wallet Presale Moves Toward $6M (https://thecoinrise.com/litecoin-reaches-128-40-hbar-slips-20-cold-wallet-presale-moves-toward-6m/)