Litecoin Hits Five-Month High—But Why?
Litecoin jumped to $128.40 early Tuesday, its highest price since March, before settling back slightly. At the moment, it’s hovering around $123.60—still up nearly 6% in a day and over 12% for the week. Not bad for a coin that’s often overshadowed by bigger names.
The surge seems tied to a mix of ETF speculation and, oddly enough, a pharmaceutical company’s sudden interest in crypto. MEI Pharma, a publicly traded firm, recently shifted $100 million into Litecoin as part of a private placement deal. That kind of move doesn’t happen every day, and it’s got people talking.
ETF Rumors—Or Just Noise?
Prediction markets are split on whether a Litecoin ETF will happen soon. Polymarket puts the odds at 80% for 2025, but over on Myriad, most users think an XRP ETF will beat Litecoin to the punch. Either way, the filings are piling up—Canary Capital, Grayscale, and CoinShares have all thrown their hats in the ring since mid-January.
But here’s the thing: analysts aren’t convinced the ETF chatter is what’s really driving Litecoin’s momentum. Illia Otychenko from CEX.IO points out that the SEC’s been aware of Litecoin ETF proposals since February. “The odds haven’t changed much,” he says. “This isn’t new—it’s just people remembering it exists.”
Corporate Money Moves the Needle
Otychenko thinks MEI Pharma’s treasury move is the bigger story. Companies turning their balance sheets into crypto investment vehicles isn’t exactly mainstream yet, but it’s happening more often. If others follow suit, Litecoin could see more sustained growth—not just the usual speculation-driven spikes.
There’s also some real-world use creeping in. Payment processor CoinGate reported Litecoin as the second-most popular crypto for merchant transactions last month, just behind Bitcoin and slightly ahead of USDC. That’s not nothing, though whether it’s enough to keep prices climbing is another question.
For now, Litecoin’s riding high, but it’s unclear how long the momentum lasts. Corporate interest might be the wild card—or maybe it’s just another crypto hype cycle playing out. Either way, it’s worth watching.
