Litecoin (LTC) Leads Altcoin Rebound, Takes Aim at Top 10 as ETF Odds Rise

The broader digital currency ecosystem is undergoing an intensive rebound, with Litecoin (LTC) leading the altcoin rebound.

Amidst a broader digital currency market upswing, Litecoin (LTC) has taken an unexpected lead in the altcoin rally. At the time of writing, LTC's price trades at $135.57, reflecting a 10.56% gain over the past 24 hours, according to data from CoinMarketCap. This uptrend is also evident in the overall market, with the combined market cap rising by 0.68% to reach $3.16 trillion.

Usually, BTC and ETH price movements have a direct impact on the market, but in this case, it appears that altcoins are leading the market rally. This is an uncommon occurrence, especially following a widespread market decline.

Litecoin's key performance metrics are showing strength, with the coin now ranking as the 12th largest by market capitalization. It has outperformed the top 20 digital currencies in terms of daily growth trends.

In addition to the 10.56% price increase overnight, LTC has also extended its growth over the past seven days to 15.44%. Compared to altcoins like Solana (SOL), which has experienced an intense 30-day drawdown of over 36%, Litecoin has maintained 10% growth month-to-date (MTD).

Furthermore, LTC has outperformed both Bitcoin (BTC) and Ethereum (ETH), which have only risen by 0.43% and 1.94%, respectively. As the broader market experiences a bullish rebound, LTC bulls may attempt to push the coin back into the top 10 by market capitalization.

Relative to other coins, Litecoin has experienced a more gradual increase in value over the past few months. For instance, XRP has experienced a 129% rally over the past 90 days, while Litecoin has only risen by 50.75%, according to CoinMarketCap.

However, this recent price rally may be linked to an exchange-traded fund (ETF) that tracks Litecoin's performance. Among the asset managers offering Litecoin ETF products, Canary Capital's product has one of the highest chances of approval at 90%.

As a result, investors may be showing optimism for the coin's future prospects, which could lead to a buying trend and ultimately push LTC to retest the $150 resistance level over the long term.