Litecoin ($LTC), currently ranked the 12th-largest cryptocurrency by market cap, has outpaced Bitcoin ($BTC) in daily price gains. While Bitcoin, the leading digital asset, is down 3.34% daily, $LTChas increased by 8% within the same time frame.

Litecoin's price gaining momentum

The price chart shows $LTCis gaining momentum, even though volatility remains high on the general market.

litcoin news - Litecoin (LTC) Outperforms Bitcoin (BTC) With 8% Surge, Is Sell-off Over?

$LTChas pared off its losses over the past week amid rising optimism for the coin. The trend suggests that the recent Litecoin sell-off is gradually waning.

litcoin news - Litecoin (LTC) Outperforms Bitcoin (BTC) With 8% Surge, Is Sell-off Over?

Accordingly, $LTCis now leading the altcoin recovery, following the positive outcomes of key metrics.

According to CoinMarketCap data, $LTCwas trading at $129.5, and its market cap stood at $9.78 billion. The daily trading volume also rose 50% to over $2 billion, suggesting heightened investor interest.

On the other hand, Bitcoinhas lost almost 4% of its value, setting its price at $86,365. $BTCplummeted as low as $86,000 during the morning trading session before moving to the current level.

Why $LTCis leading

Some market analysts remain convinced that $LTCis set for a further breakout. Their sentiment is based on the fact that the coin is considered a commodity.

These analysts believe the asset could benefit more from the current change in crypto regulatory policies. Some investors understand this and are pricing in the coin based on its recent recovery. Litecoin also benefits from the recent hype surrounding the growing number of $LTC-based Exchange-Traded Fund (ETF) proposals.

ETF Store President Nate Gerarci recently pointed outthat the SEC has acknowledged filings for $LTCETFs. The regulator’s acknowledgment suggests progress for potential Litecoin ETF approvals. Moreover, experts have given the Litecoin ETF a 90% chance of approval.

The eventual approval of an $LTCETF could lead to a big breakout in institutional adoption. This is because investors will gain exposure to $LTCthrough a regulated stock market, which many perceive as more secure.

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