Litecoin's 15% price increase to $125.90 was driven by positive FOMC meeting outcomes, potential ETF developments, and increased network activity with 122,000 new wallet holders.

Litecoin (CRYPTO: LTC) soared to double-digit gains on Wednesday after the SEC formally acknowledged its exchange-traded fund application. What happened: The regulator solicited comments on the ETF applied by digital asset trading firm Canary Capital and asked for those to be submitted 21 days after publication in the Federal Register.

Litecoin (LTC) prices shot up 11% in the past 24 hours, printing a daily high of $131 and analyst predict $170 in the near future.

The SEC has "acknowledged" Canary Capital's filing for a Litecoin ETF, pushing $LTC prices higher and triggering a wave of excitement among Litecoin users who believe $LTC is the better coin than Bitcoin.

Litecoin price surged 13% on Thursday followed by U.S. SEC formally acknowledging Canary Capital's application for a spot Litecoin ETF.

The Litecoin ecosystem has witnessed a significant influx of new investors, with the total number of LTC holder wallets increasing by 122,000 in just 10 days. This growth in investor base occurred even amidst a 22% drop in LTC's price, suggesting a strong underlying demand and confidence in the cryptocurrency's future prospects.

Litecoin surged more than 11% in the last 24 hours as the US SEC moves closer to a decision on the Canary Litecoin ETF.