LTC (Litecoin) has fallen 22.36% in the last 24 hours.

Gate News Bot message, on October 11, according to CoinMarketCap data, as of the time of writing, LTC (Litecoin) is currently priced at $99.32, down 22.36% in the last 24 hours, with a high of $135.56 and a low of $66.26, and a 24-hour volume of $386 million. The current market capitalization is approximately $7.587 billion, reduced by $2.185 billion compared to yesterday. Currently, LTC ranks 19th in global Crypto Assets market capitalization.

Litecoin is a peer-to-peer internet currency that enables instant, nearly zero-cost payments. As an open-source global payment network, Litecoin is fully decentralized and has no central authority. The network is secured by mathematics, allowing individuals to control their finances. Compared to leading mathematical currencies, Litecoin offers faster transaction confirmation times and higher storage efficiency. With extensive industry support, volume, and liquidity, Litecoin has become a complementary medium of exchange to Bitcoin.

Important recent news about LTC:

1️⃣ Canary submitted a Litecoin spot ETF amendment.

Canary Capital has submitted an S-1 amendment for the Litecoin (LTC) spot ETF, setting the trading code as LTCC and the fee rate at 0.95%. This move marks the final preparation stage before the official launch of the LTC ETF product, bringing positive expectations to the market. However, the significant fall in the current LTC price may reflect the market's overreaction to this news and subsequent profit taking.

2️⃣ LTC ETF approval expectations rise

Despite the uncertainty brought by the US government shutdown, the documents related to the LTC ETF are quite complete, and approval may be "just around the corner." This view has been endorsed by several industry analysts, further boosting market confidence. However, the price volatility in the short term indicates that investors still have doubts about the regulatory stance.

3️⃣ ETF Fee Rate Positioning Analysis

The 0.95% fee rate of the LTC ETF, although higher than that of the spot Bitcoin ETF, is considered a common level for emerging and niche ETF products. This pricing strategy reflects the market's recognition and demand for LTC and other Crypto Assets ETFs, but it may also provoke investors to consider its long-term competitiveness.

The sharp fluctuations in LTC prices reflect the market's sensitive reaction to ETF-related developments. Although the long-term outlook remains optimistic, short-term investor sentiment is highly volatile, resulting in significant price corrections. Technically, LTC may need some time for consolidation to digest recent gains and negative factors.

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