Litecoin (LTC), currently ranked 19th in market cap, is showing bullish signs amidst a volatile crypto market. This is partly due to its recent classification as a commodity by the Commodity Futures Trading Commission (CFTC).

According to IntoTheBlock, 75% of LTC holders are now in profit, with the crypto asset trading at $101, up nearly 15% over the past month. A key on-chain resistance is seen around the $150 mark, a level marked by the acquisition of 8.16 million LTC held by 590,000 addresses.

The CFTC's classification of Litecoin as a commodity has exempted it from the SEC's stricter regulations on coin issuers. This move has been a significant factor in Litecoin's recent performance, with the crypto asset even outpacing other altcoins in terms of market rebound.

On-chain transaction volume has spiked, and dormant whale wallets are moving coins back into circulation, suggesting a justified price bounce. The market remains optimistic about Litecoin's potential for further growth.