Experts at Santiment, a well-known company in the cryptocurrency world, said that the activity of some alternative coins has gone up a lot.
Analysts say that the use of Litecoin, Maker, and Lido Finance cryptocurrencies is growing quickly. Analysts believe that when usage increases and the area of use gets bigger, the market value goes up.
Analysts say MKR and LDO altcoins have grown in value, but LTC hasn’t had the same increase yet.
However, the official Litecoin (LTC) account posted about a “Litecoin ETF” while Bitcoin Spot ETFs are being talked about. Grayscale had said they might create an ETF for a bunch of different altcoins, like Litecoin. But it’s been a long time and they haven’t done it yet.
The SEC thinks that all cryptocurrencies are like stocks, except for Bitcoin. The head of the SEC has made conflicting statements about Ethereum in the past. After Bitcoin Spot ETFs are approved, people will be watching to see if Ethereum spot ETFs will also be approved.
This is not advice on how to invest your money.