Key insights:
- Litecoin’s MWEB balance rose 70% in 29 days to reach 280,119 LTC.
- Canary Capital launches the first Litecoin Spot ETF (LTCC).
- Increased privacy usage and access to new ETFs will drive Litecoin adoption.
Litecoin’s Mimblewimble Expanded Block (MWEB) balance has reached a record 280,119LTC price after rising 70% in 29 days.
This milestone comes as Canary Capital launches the first Litecoin Spot ETF, giving investors new access to the coin and marking a key moment in adoption and usage.
Privacy usage in Litecoin continues to increase
The amount of LTC saved through MimbleWimble Extension Blocks (MWEB) has reached its highest level ever.
According to Market Watcher data, the Litecoin balance currently stands at 280,119 LTC. Approximately 90,000 LTCs have been added since October 10, when prices across the crypto market fell.
It is worth mentioning that MWEB allows users to send and receive Litecoin through private addresses. This hides transaction amounts and addresses while keeping the network secure.
The consistent increase in MWEB usage indicates that more holders are using this feature. It also shows the growing trend of storing coins in personal wallets rather than exchanges.
Litecoin MWEB address hits ATH | Source: Litecoin
Meanwhile, MWEB’s balance is currently close to 300,000 LTC. Many traders believe that the recent surge is due to investors who bought during the market decline in October and then moved the coins to private storage.
Furthermore, this pattern suggests that more people are using Litecoin’s privacy tools for long-term holding.
Community members see this increase as a good sign for network activity. More coins moving to MWEB addresses could mean users trust the system and want more control over how their transactions appear on the blockchain.
LTC price fluctuations indicate mixed market sentiment
Litecoin (LTC) price is trading around $94.26 after falling 14.4% in recent weeks. Its market value is approximately $7.2 billion, and the total supply of this coin is 84 million LTC.
The 24-hour trading volume was $786.97 million, equivalent to about 10.91% of the market capitalization.
The coin remains below its 20-day, 50-day, and 200-day moving averages. This shows that short-term price pressures remain.
Market participants expect the trading range to remain between $84.31 and $91.04 for the time being.
Although prices are still falling, network activity tells a different picture. The increase in MWEB holdings shows that user confidence in Litecoin is undiminished.
It also shows that more people are using the coin in a way that is fast, low cost, and has privacy options in keeping with its design.
Traders will be watching to see if the increased network usage will later be reflected in prices.
For now, Litecoin user participation is steadily increasing due to activity on MWEB, even when the market mood is dull.
ETF launch marks another step for Litecoin
This week, Canary Capital launched the first Litecoin spot exchange-traded fund (ETF) under the ticker LTCC.
The fund, which began trading three days ago, offers investors a way to gain exposure to Litecoin’s price through the traditional stock market.
Interestingly, this launch follows a series of new digital asset ETFs, including Solana and Hedera funds.
These listings bring cryptocurrencies onto regulated exchanges and provide open access to a broader investor base.
Market players believe that ETFs have the potential to increase Litecoin’s visibility. This allows institutions and individuals who do not wish to hold the assets directly to invest in them.
Increased access could lead to increased demand over time, supporting Litecoin’s role in the broader digital asset market.
The timing of the ETF’s debut, along with record MWEB balances, highlights a period of renewed interest in Litecoin.
On the other hand, everyday users take advantage of its privacy features. Meanwhile, traditional investors are being given new avenues to participate through regulated products.
Essentially, both developments show that the Litecoin ecosystem remains active and expanding.
Although prices remain under pressure, user behavior and market developments indicate that adoption and usage will steadily increase.
