Litecoin Spikes 25%: What’s Behind the Sudden Surge?

• Fidelity, VanEck, and other companies recently refiled spot Bitcoin ETF applications after reports of SEC rejections.
• South Korea passed new crypto legislation focusing on investor protections.
• Litecoin saw a significant spike in value with no apparent cause identified yet.

Fidelity & VanEck Refile Spot Bitcoin ETF Applications

Fidelity, VanEck, and several other companies have recently refiled their spot Bitcoin ETF applications after reports of rejections from the US Securities and Exchange Commission (SEC). The applications fell short of the SEC’s expectations on a technicality but are not completely out of the running yet. This follows South Korea’s passing of new crypto legislation that focuses on investor protections.

BNY Mellon’s Crypto Custody Venture Runs Afoul Of SEC Rules

BNY Mellon’s crypto custody venture has run into some trouble due to it being inconsistent with SEC rules. The company’s plans have been put on hold while they work towards resolving this issue with the regulatory body.

Vodafone Confirms Rumors Of Cardano NFT Plans

Vodafone has confirmed rumors about their plans to launch an NFT marketplace powered by Cardano technology. The platform will allow users to buy, sell, and trade digital assets such as artworks, music, videos and more using Cardano’s blockchain infrastructure.

Litecoin Spikes 25%: What’s Behind The Sudden Surge?

Litecoin experienced a significant boost in price over the recent trading day which appears to be linked to its listing as a tradable cryptocurrency for EDX Markets on June 20th. After its first three days of trading, Litecoin saw its price climb from $77 to $91 before dipping slightly; however the surge seen today is significantly steeper with no apparent cause identified as of yet by media or analysts though there is speculation that this may be connected to its exemption from the SEC’s list of tokenized securities regulations earlier this month.

Conclusion

Overall it appears that both positive developments in terms of regulation along with new opportunities for traders have helped spur increased interest in Litecoin resulting in its recent surge in value which has registered at 24%. It remains unclear what will happen next but whatever does occur it is sure to be closely watched by investors in order to gauge how much further these trends can continue pushing upwards or if any unexpected events could bring them back down again.

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