Litecoin’s Recovery Amid Market Corrections

Not all pullbacks are created equal, and Litecoin (LTC) is proving that today. As the cryptocurrency market just survived another round of massive and very painful corrections causing billions worth of liquidations, the price of Bitcoin (BTC) lost almost 10%, falling as low as $85,000.

Alternative cryptocurrencies, including Litecoin, were not spared, experiencing even more severe declines during these tumultuous days. However, as the dust settled and assets began to recover, Bitcoin’s price increased by 3.93%, bringing it back to $89,400.

Meanwhile, Litecoin saw a remarkable recovery of nearly 20%, jumping from a low of $106 to $123.7 in just a day and a half.

As a result, the coin, created in 2013 as an alternative to BTC – not exactly the “shiny new coin” everyone loves – has emerged as one of the top performers in the entire market over the last 24 hours.

Why Litecoin?

Well, if Bitcoin can be considered an alternative to gold, often likened to the precious metal even by figures like Fed head Jerome Powell, Litecoin is viewed as the “crypto silver.”

Despite being a “dino coin,” LTC is perceived as a more fundamental asset than your average meme coin among crypto market participants.

Furthermore, the recent emergence of the ETF narrative for this alternative cryptocurrency is worth noting. With multiple recent filings and expected approval from the SEC, experts estimate the Litecoin ETF has an 80% chance of approval.

If approved and launched in the market, LTC might replicate the positive effects Bitcoin experienced after the launch of exchange-traded funds, attracting “Boomer” investors willing to invest in established assets.

With the label of “digital silver,” Litecoin has a solid foundation to reach this target audience.