Newton Gitonga
Attention remains on large-cap tokens on Friday as crypto bills’ approval fueled crypto rallies.
While Ethereum steadied above $3,600, Litecoin surpassed the $100 psychological zone.
LTC gained more than 12% in the past 24 hours, following two major institutional announcements.
First and foremost, Luxxfolio Holdings confirmed it has increased its LTC treasury by 151.6% per share, representing a vivid ramp-up in the listed firm’s crypto strategy.
Mei Pharma supercharges the token’s rally with a $100 million investment.
With institutions going all in on LTC, should we expect massive rallies in the materializing altcoin season?
Luxxfolio more than doubles its Litecoin reserves
The Canadian-listed company grabbed the crypto community’s attention as it increased its LTC treasury by 151.6% per share.
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📢 Corporate Update: Luxxfolio has increased our Litecoin treasury to 20,084 LTC — a 151.6% jump in LTC per share since March.
We’ve deployed 841 cbLTC into DeFi to generate on-chain yield and are advancing Litecoin Layer 2 + smart contract
Luxxfolio now holds around $20,084 tokens.
While most licensed firms prefer Bitcoin and Ethereum for their balance sheets, Luxxfolio chooses to ride the institutional-crypto adoption wave with Litecoin.
Moreover, it plans to accumulate 100,000 LTC by the end of 2025.
That reflects deep confidence in Litecoin’s performance and long-term value.
The team said:
Litecoin is the most underbuilt and undervalued major chain, its why we are the first public company to implement a Litecoin strategy.
Mei Pharma’s $100M LTC allocation
Mei Pharma has officially joined the list of public companies venturing into the cryptocurrency world.
The healthcare firm appears to follow Luxxfolio’s footsteps, avoiding the top Bitcoin and Ethereum for Litecoin.
Notably, Mei Pharma has boosted its digital asset holdings with $100 million Litecoin allocation.
🚨 Mei Pharma to launch a $100M $LTC treasury strategy.
That reflects the changing perceptions of institutions toward crypto, with many viewing digital tokens as potential strategic hedges and stores of wealth.
While the medical firm hasn’t revealed reasons behind choosing Litecoin, the project’s lower fees, long-standing reputation, and transaction speed likely boosted its appeal as an alternative for treasury diversification.
LTC turns bullish
The native token displayed a bullish stance as the community cheered the double boost.
While flashier tokens have often overshadowed Litecoin, increasing institutional interest bolstered sentiments around the time-tested token.
For context, the Litecoin project has never faced downtimes in over a decade of its existence.
Projects like Solana have encountered several blackouts over the years.
LTC trades at $108 after soaring from yesterday’s low of $96.
It has crossed the crucial level at $100, and the soaring trading volume suggests upside extension.
Furthermore, the 50 EMA is about to cross the 100 EMA to the upside, confirming a “buy” signal.
Technical indicators demonstrate buyer resurgence after LTC’s 12.5% 24-hour price surge.
Litecoin’s price hovers well above the 50 and 100 Exponential Moving Averages on the 1D timeframe, indicating a strong upside momentum as bulls remain in control.
Also, the Moving Average Convergence Divergence stayed above the signal line after the June 25 crossover.
Moreover, the Chaikin Money Flow has climbed in the past few days, depicting surged accumulations and convictions in LTC’s short-term performance.
The altcoin could extend its surges to early March peaks of $130.
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