Litecoin experienced a mini-run, with the price surging above $73 for the first time since July. Over the week, the crypto asset attracted 12% in gains.

This marks its first notable breakout from Bitcoin and altcoins since the spring.

Litecoin Poised for a Comeback?

According to Santiment’s latest analysis, two key factors appear to be fueling this bullish trend in Litecoin.

Litecoin is enjoying a nice mini run, jumping above $73 for the first time since July. This is its first mid-sized breakout from Bitcoin and altcoins since the spring. Two major factors are:

⚡️ LTC’s continued rise of on-chain transaction volume, which has nearly crossed $4B… pic.twitter.com/oSKt7mRC2L

— Santiment (@santimentfeed) October 17, 2024

First, Litecoin’s transaction volume neared $4 billion this week, its highest level since June 3, 2023. Secondly, social dominance is also on the rise, with 1.08% of all cryptocurrency discussions now related to Litecoin, the highest since April 1, 2024.

This spike in both price and engagement indicates a growing interest in Litecoin, driven by its increased network activity and a renewed focus from retail traders.

In tandem with its price surge, Litecoin recently celebrated its 13th anniversary on October 7th, having completed a record-breaking 77 million transactions this year.

Litecoin, which once held a prominent position among the top 10 cryptocurrencies, now ranks as the 26th largest digital asset with a market cap of $5.41 billion, as per data compiled by CoinGecko. Despite this dip in its ranking, Litecoin appears poised for a comeback.

Could Litecoin’s Resurgence Attract Institutional Investors?

Driving this momentum is the potential institutional demand that has prompted Canary Capi