Litecoin surges 20% to nearly $74.77 as futures activity accelerates

  • Litecoin rose roughly 20% on September 24 to an intraday high near $74.77.
  • More than 17 million LTC worth roughly $1 billion moved across the Litecoin network in 24 hours.
  • Litecoin futures open interest crossed $500 million as LTC broke above the $64 to $65 resistance area.

Litecoin rose roughly 20% on September 24 to an intraday high near $74.77, its highest price since January, after breaking resistance that had constrained trading through most of September. Separate market readings during the move placed LTC near $70.84 and $71.88, after a low of $59.11, with the token up 34.7% over seven days and 38.6% over a month despite a negative 33.1% one-year return. More than 17 million LTC worth roughly $1 billion moved across the network in 24 hours, while about 158,500 transactions were processed and hashrate reached about 2.7 PH/s. Spot volume climbed toward $948 million as LTC pushed through $65 and then $70, while futures open interest exceeded $500 million and short liquidations added momentum. Earlier reporting recorded futures open interest of about $658 million and futures volume of roughly $1.9 billion, compared with about $352 million in spot volume, leaving the extent of sustained spot-led demand uncertain. Technical indicators showed a decisive break above the 21-day Donchian Channel boundary of $63.23, with $72 to $75 the immediate upside area and $64 to $66 a key support and liquidation zone. Regulated-fund demand remained limited, with Canary Capital's LTCC holding about $8.6 million in net assets as of Sept. 22 and Grayscale's proposed LTCN ETF conversion still awaiting SEC approval.

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