Just as the U.S. Securities and Exchange Commission (SEC) neared a decision deadline for the long-awaited Canary Litecoin ETF, the US government shut down.
Will Litecoin rebound towards its $120 monthly high, or will traders ‘sell the news’ and send the price downwards?
Even as traders keep one eye on the SEC’s moves – and another on Litecoin’s performance – Bitcoin Hyper ($HYPER) could be poised for a breakout of its own.
The new crypto presale is planning something very big: an integral upgrade to Bitcoin’s blockchain, promising dApps, smart contracts, and modern DeFi technology for traders and developers alike.
Canary Capital originally filed an S-1 registration statement with the SEC for its $LTC ETF back in January, prompting the normal review by the SEC – and then several delays.
That wasn’t the only filing Canary Capital made; it has filed for several others, many with staking or hybrid structures across a range of altcoins:
Fast-forward half a year, and the SEC faces a wave of crypto ETF decisions, helped along by the recent rule change to streamline the listing process.
But with a government shutdown in effect from Oct. 1, how long will the approvals be delayed?
If approved, the Litecoin ETF would become the first U.S. altcoin ETF under the Securities Exchange Act of 1934. This would give retail and institutional investors regulated access to LTC via traditional brokerage accounts.
Nearly everyone expects the SEC to approve the listing, with odds on Polymarket above 97%. And once one altcoin ETF is greenlit, it’ll be hard for the SEC to deny others.
That expectation translated into a 5% intraday gain for $LTC as traders jockey for position ahead of the SEC verdict. Volume surged over 170 in the last 24 hours, too.
Technical indicators look bullish; after testing the $101 mark early last week, $LTC’s movement turned positive. The MACD just rose above the signal line, indicating a potential bullish signal after the previous correction.
Should approval be granted, Litecoin could continue to gain momentum, pushing past $120 (which it’s already nearing) and going above $130, even.
Traders are also watching futures open interest and derivatives flows for clues on institutional appetite. Any ETF approval could trigger cascading inflows into other altcoin ETF proposals such as Solana, feeding the market’s appetite.
The more ETFs launch and the more the SEC embraces crypto – at least, after it reopens for business – the more fuel gets poured on the crypto market.
And that goes beyond Litecoin; even as altcoins boom and the Altcoin Season Index sits at 64/100, investors can look beyond Litecoin at the best crypto presales.
Bitcoin Hyper ($HYPER) takes Bitcoin and supercharges it.
It’s all down to a hybrid solution that blends the best of both worlds; the SVM’s speed and scalability, and the reliability and sheer size of the world’s biggest crypto, Bitcoin.
A Bitcoin Canonical Bridge allows you to deposit Bitcoin and mint wrapped Bitcoin on the Hyper Layer 2. From there, you can swap, stake, and deploy it on dApps and DeFi protocols – anything possible in the broader SVM ecosystem.
Bitcoin Hyper’s presale has rocketed out to $19.7M raised in mere weeks; the $20M mark is just around the corner. Massive whale buys provide added punch:
Even the best crypto presales don’t draw that much attention unless investors sense real utility and value behind the project. Hyper offers exactly that – the chance to expand Bitcoin’s utility as a payments solution, while generating massive momentum for the $HYPER token itself.
Don’t miss the chance to check out the Bitcoin Hyper presale.
