The proof-of-work coin surged over 11% in the last 24 hours, hitting levels not seen since Mar. 28.
Litecoin price shot up more than 10% on Tuesday, outperforming market heavyweights Bitcoin and Ethereum. The move saw the coin hit highs not seen since March 28.
What Happened: Litecoin LTC/USD was trading at $91.86, having shot up 11.84% over the last 24 hours. The trading volume also soared 41% to $805 million, making it one of the most traded cryptocurrencies over 24 hours.
The coin moved sideways during the morning hours but erupted during the afternoon, surging to an intraday high of $93.18 by late evening.
LTC's rally outperformed that of market heavyweights Bitcoin BTC/USD and Ethereum ETH/USD which rose 2.45% and 1.62%, respectively. The rally also galvanized LTC's derivatives market, with Open Interest surging 9.77% to $606 million, the highest in over two months, according to Coinglass.
The upsurge was part of a larger cryptocurrency upswing following the announcement that Treasury Secretary Scott Bessent will meet with Chinese officials for trade-related discussions.
Additionally, it marked a sharp reversal from the dip after the SEC delayed a decision on a Litecoin exchange-traded fund application.
Analysts have previously stated that LTC could be the first altcoin ETF of 2025, with Polymarket bettors expecting a 76% chance of approval as of this writing.
See Also: Maxine Waters Plans Walkout From Crypto Hearing, Will Host ‘Shadow Hearing’ Opposing Trump Family Ventures: Report
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