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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.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team