Litecoin surges as Luxxfolio hikes LTC stake, Mei Pharma reveals $100M treasury
Main Idea
Litecoin (LTC) experiences a significant price surge following Luxxfolio's increased investment and Mei Pharma's $100M treasury allocation, with technical indicators suggesting continued bullish momentum.
Key Points
1. Luxxfolio Holdings increased its LTC treasury by 151.6% per share, now holding 20,084 LTC, with plans to accumulate 100,000 LTC by the end of 2025.
2. Mei Pharma announced a $100 million investment in Litecoin, joining other public companies in crypto ventures.
3. Litecoin's price surged over 12% in 24 hours, surpassing $100, with technical indicators like EMA and Chaikin Money Flow showing strong buyer interest.
4. The altcoin's trading volume and momentum suggest potential to reach early March peaks of $130.
5. Litecoin's lower fees and reliability are highlighted as advantages over other cryptocurrencies like Solana, which has faced operational issues.
Description
Attention remains on large-cap tokens on Friday as crypto bills’ approval fueled crypto rallies. While Ethereum steadied above $3,600, Litecoin surpassed the $100 psychological zone. LTC gained more than 12% in the past 24 hours, following two major institutional announcements. First and foremost, Luxxfolio Holdings confirmed it has increased its LTC treasury by 151.6% per
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