Litecoin Rallies Nearly 10% Past $124, Volume Skyrockets 200% – Here’s What is Fueling Momentum

Litecoin (LTC) has outperformed the market with over 10% rise in 24 hours, trading past $124 on Tuesday. The token later rebounded and is currently trading at $122 at the time of writing, per CoinMarketCap data.

LTC has been showing strong upward momentum since April, with bulls predicting a possible $140 mark in the coming months.

LTC’s rally comes amid a broader market pullback and Bitcoin facing rejection below $116K. The trend signals strong bullish momentum and potential for further upside.

Litecoin is up 11.6% on a weekly trading chart, with its 24-hour volume skyrocketing past 200%.

What is Driving LTC Price?

CoinGate data revealed that litecoin processed 14.5% of all crypto payments in July 2025. The altcoin has surpassed USDC and TRON to become the second-most used crypto after Bitcoin, it noted.

Additionally, over 40 million transactions occurred on LTC in 2025 alone. This means that rising payment adoption directly increases LTC’s utility and buy-side demand.

Besides, Polymarket odds for a Litecoin ETF approval in 2025 jumped to 81%, adding a bullish impact on the coin. Further, Bloomberg analysts have assigned a 90% chance of eventual ETF approval.

That said, the regulatory environment remains favorable, with the CFTC classifying Litecoin as a commodity. With Grayscale’s LTC Trust already holding $180M in Litecoin, the ETF approval on the horizon would unlock institutional capital.

Last month, MEI Pharma announced a $100 million private investment in public equity (PIPE) transaction to add Litecoin into its corporate treasury.

Market Watchers Say Litecoin Would Hit $150

According to a crypto commentator, Rain, LTC would hit a price target of $150 after witnessing a strong rise since April.

“$150 is the nearest target, with big moves likely to come. Volume and momentum pick up,” he wrote on X. “Time to return to all-time highs is near.”

Litecoin has been on a strong rise since April.

Now trading above $120 at a critical level. $150 is the nearest target, with big moves likely to come. Volume and momentum pick up$LTC is showing more strength than many altcoins.

Time to return to all time highs is near. pic.twitter.com/uPsHWfTLb1

— Rain (@raintures) August 5, 2025

Another market analyst wrote that a return to all-time highs may be near, predicting $150 as the next target, “as it outperforms many altcoins.”