The crypto market is gradually recovering from a massive crash, with Litecoin (LTC) leading the rebound among altcoins.
Litecoin and Altcoins Rebound
At the time of writing, Litecoin's price was up 5.62% in 24 hours to $118.67. Despite the high volatility, the coin is gradually paring its losses over the past week. Litecoin's recovery, amid a global sell-off, has invalidated previous projections of no sharp movements. While trading volume hasn't increased in tandem with the price, the coin's volume growth on platforms like Binance and OKX has shown positive trends. Other altcoins such as Ethereum, XRP, Solana, and Cardano are also recovering steadily.
Is the Bottom in for Litecoin?
Market analysts believe Litecoin has potentially reached its bottom. LTC dropped as low as $108.4 before bulls rejected any further sell-off. While speculation around a potential Litecoin ETF did not immediately shift market sentiment, it remains a favorable prospect for long-term investors.
Regulatory Prospects for Litecoin
As a coin considered a commodity, Litecoin is poised to benefit from the current shift in crypto regulatory policies. Some investors recognize this potential and are already pricing it in through this recovery.
The recovery of Litecoin and other altcoins shows the resilience of cryptocurrencies despite current market uncertainties.
