Core Insights - Litecoin (LTC) experienced a price drop to $51 in October but has since rebounded above $100, with potential for further growth due to the upcoming LTC ETF launch and improving on-chain metrics [1] - Despite the positive developments, trader sentiment remains cautious, reflecting a wait-and-see approach regarding the ETF's impact on the market [3] ETF Developments - Several spot ETFs, including the Litecoin ETF by Canary Funds, have been approved and are set to begin trading on NASDAQ, benefiting from a special regulatory mechanism that allows automatic approval [2] - Market reaction to the ETF news has been muted, with LTC's price fluctuating between $98 and $105, indicating traders are awaiting concrete evidence of the ETF's effects [3] - Forecasts suggest a 99% probability of ETF approval by the end of 2025, which could serve as a bullish catalyst for LTC [3] Technical Analysis - A prominent LTC supporter believes Litecoin is on the verge of a significant uptrend, citing a long-term symmetrical triangle pattern that may lead to a strong yearly bullish candle after a period of price consolidation [4] On-Chain Metrics - The average transaction value on the Litecoin network has recently surpassed $80,000, the highest in three years, indicating increased large-scale transfers and stronger on-chain activity [5] - Litecoin's hashrate reached a new all-time high of approximately 3.34 PH/s, which enhances network security and reflects growing miner participation [6] - The expansion of Mimblewimble Extension Blocks (MWEB) on the Litecoin network allows for confidential transactions, improving user privacy without increasing fees or slowing processing speed, with the total MWEB balance reaching 260,000 LTC [7]