Litecoin Hashrate Surges 30%, ETF Proposal Filed Amid Market Shifts

Litecoin (LTC) network has seen a 30% increase in hashrate since early January and has almost doubled in the last four months. 

This rise reflects growing participation from miners and heightened computational power supporting the network. However, the sudden surge in hashrate has affected mining profitability.

Bitmain’s Antminer L9, a popular Litecoin mining machine, experienced a $10.00 drop in daily profits over the weekend due to the network’s increased competition. 

The growth in hashrate demonstrates the robust activity of miners but also puts pressure on individual profitability as difficulty levels rise.

Monochrome Applies for Litecoin ETF in Australia

Monochrome Asset Management has submitted a draft application to launch its third crypto-based exchange-traded fund (ETF) on Cboe Australia, subject to exchange and regulatory approval. 

The proposed Monochrome Litecoin ETF (LTCC) aims to provide investors with regulated access to Litecoin, expanding the firm’s offerings in cryptocurrency-based financial products.

Monochrome’s portfolio already includes the Monochrome Bitcoin ETF (IBTC) and the Monochrome Ethereum ETF (IETH). If approved, the Litecoin ETF would strengthen Monochrome’s position as a provider of regulated crypto investment options in Australia.

Litecoin Market Metrics Show Mixed Signals

As of press time, Litecoin (LTC) was trading at $115.00, with a 24-hour trading volume of $823,277,314. The price has increased 5.86% in the last 24 hours, but it reflects a -0.23% decline over the past 7 days. With a circulating supply of 75 million LTC, Litecoin’s market capitalization currently stands at $8.71 billion.

Technical indicators show a neutral to bearish outlook. The Alligator indicator lines are converging, suggesting a potential consolidation phase, with support at $111.95 and resistance near $116.34.

Holder Patterns Reveal Long-Term Confidence

According to IntoTheBlock data, the number of long-term Litecoin holders (Hodlers, 1+ years) has surpassed 6 million addresses, marking steady growth in accumulation. 

This rise points to increased confidence in Litecoin as a store of value and aligns with its historical performance, which saw its price nearing $320.00 during previous peaks.

Mid-term holders (Cruisers, 1–12 months) are also growing in number, aligning with price trends near $160.00. In contrast, short-term traders (<1 month) have declined sharply to under 1.5 million addresses, reflecting reduced speculative activity. 

This decline coincides with Litecoin’s price consolidation, suggesting a shift in focus toward long-term holding.

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