Significant developments are occurring in the cryptocurrency market regarding Litecoin and SUI. Let's look at recent updates and their market impact.
SEC Delays Decision on Litecoin ETF
The U.S. Securities and Exchange Commission has postponed its decision on Grayscale’s plan for a Litecoin ETF once again, with the new decision date set for October 10. This marks the third extension since January. The SEC stated that it needs more time for analysis but did not seek additional public feedback. Following the news, Litecoin’s price dipped nearly 2%, pushing its weekly losses to over 7%. Analysts believe that despite the delays, one approval for a Litecoin ETF might still happen this year.
SUI Investment from Mill City Ventures
The latest SUI price analysis has gained traction after Mill City Ventures allocated $450 million to make SUI its primary treasury holding. This represents one of the largest institutional allocations to a single token in recent times. With 98% of the amount directed into SUI, it demonstrates a strong long-term focus supported by Galaxy Digital and Pantera. Recent analysis shows SUI holding key support at $3.80, with a breakout past $4.35 possibly leading to $5.18.
Cold Wallet's 50x Goal
Cold Wallet (CWT) has reached stage 16 of its presale, raising over $5.7 million in a matter of weeks. The initial stage offered tokens at $0.007, while the current price stands at $0.00942. With a fixed launch price of $0.3517, early buyers could see a 50x return. This growth has been attributed to a simple yet effective referral program. Additionally, Cold Wallet acquired Plus Wallet for $270 million, bringing in 2 million new users onto the platform.
Upcoming events in the crypto world, including the Litecoin ETF decision and SUI's investments, are shaping the market. Cold Wallet's unusual growth and strong investor interest set it apart.
