“Will LTC price reach $140 this week?”
The price saw a very unusual rise when the Canadian government finally gave approval to carry out unlimited trading on the exchange for Litecoin (LTC) and three other cryptocurrencies.
While cryptos other than LTC and three other digital assets will have an annual limit of $30,000, the Canadian government announced in just a few minutes during the Canada Day ceremony on July 1, 2023.
Recently, the House of Commons Committee on Industry and Technology reportedly called on the government to establish a national blockchain strategy to clarify the country's regulatory approach and show support for the crypto market.
Please note that the price of LTC also jumped significantly when the digital asset was revealed to be holding a halving event on August 2, 2022, where it reduced the block reward from 12.5 LTC to 6.25 LTC.
Having crossed $100 to reach a 14-month high, the LTC network managed to process more than 500,000 daily transactions, further increasing the number of transactions for the digital asset.
According to Crypto analyst Tony, LTC which is currently maintaining bullish momentum is expected to continue its rise to reach its next major target at $140 or more.
Being surrounded by positive sentiment, LTC price is now up 6.43% at $112 in the last 24 hours with a market cap of $8 billion and has gained 29.28% over the last week.
