Litecoin (LTC) surged to $128.40 this week, its highest price in five months, driven by MEI Pharma’s major treasury investment and growing anticipation for a potential ETF approval. The cryptocurrency has climbed 41% month-to-date, raising its market capitalization to $9.4 billion amid heightened institutional interest.
MEI Pharma’s allocation of $100 million in corporate treasury funds to Litecoin is widely recognized as the primary catalyst for the upward momentum. This landmark investment signals rising institutional confidence in Litecoin’s value proposition and may encourage broader corporate treasury diversification into digital assets.
Beyond investment flows, Litecoin maintains significant utility in payments, capturing a 14.5% market share among cryptocurrencies processed by payment platform CoinGate. This positions Litecoin as the second-most used digital asset for consumer transactions, trailing only Bitcoin.
Bullish sentiment is further amplified by prediction markets pricing in an 80% probability of a Litecoin exchange-traded fund securing regulatory approval this year. Such a development could unlock substantial institutional capital and validate Litecoin’s long-term market positioning.
Collectively, these developments underscore Litecoin’s dual growth trajectory as both a treasury reserve asset and payment instrument while reflecting increasing mainstream adoption of digital currencies.