Litecoin Surges 25%: What’s Driving the Sudden Price Jump?

• Fidelity, VanEck, and other firms refiled their spot Bitcoin ETF applications after reports of SEC rejections.
• South Korea passed new crypto legislation to protect investors.
• Litecoin experienced a sudden surge of 24.6%, with no apparent cause identified yet.

SEC Rejects Spot Bitcoin ETF Applications

Fidelity, VanEck, and other firms recently refiled their spot Bitcoin ETF applications with the Securities and Exchange Commission (SEC) following reports of SEC rejections. The recent applications fell short of the SEC’s expectations on a technicality but are still in contention for approval.

South Korea Passes New Crypto Legislation

In response to investor concerns about security, South Korea has passed new cryptocurrency legislation that focuses on investor protection. The law requires crypto service providers to apply for registration with the Financial Supervisory Service (FSS). Additionally, it includes measures such as customer identification and anti-money laundering regulations.

BNY Mellon’s Crypto Custody Venture Runs Afoul Of SEC Rules

Bank of New York Mellon Corporation (BNY Mellon) recently announced its plans to launch a digital asset custody offering in partnership with leading crypto custodian Fireblocks. However, BNY Mellon’s venture ran afoul of SEC rules due to Fireblocks‘ reliance on unregistered broker-dealers.

Vodafone Confirms Rumors Of Cardano NFT Plans

Telecommunications giant Vodafone recently confirmed rumors that it is planning to launch non-fungible tokens (NFTs) built on the Cardano blockchain platform in order to tokenize its products and services globally. These NFTs will be used as rewards for customers who use Vodafone services or refer friends or family members to them as well as for loyalty programs and promotions.

Litecoin Spikes 25%: What’s Behind The Sudden Surge?

Litecoin saw an impressive spike in price recently, rising from $77 per coin up to $105 within the last 24 hours — a gain of 24.6%. While there has been no official explanation behind this surge yet, one potential factor may be Litecoin’s listing for trading on EDX Markets just over a week ago which caused its price initially climb from $77 to $91 over three days before this most recent surge occurred today.