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Litecoin and Mantra experienced a wonderful week, with their valuations surging by over 10%!
At the moment, Litecoin is being exchanged for $131.64.
The network’s realized gains and deficits metric, which monitors the total gains and deficits of all on-chain tokens for a particular day, displayed multiple upward surges in January, implying profit realization. Dealers should be aware of substantial upward surges, as this may indicate dealers are unloading holdings to mitigate portfolio exposure, potentially causing a modification in OM’s price.
On January 30, OM’s aggregate outstanding contracts attained a peak, surpassing $348 million.
## Market Impetuses Propel Mantra and Litecoin
A crucial market impetus propelling LTC values upward this week is the anticipation of US authorization for a Litecoin exchange-traded fund (ETF). Dealers are extremely optimistic regarding authorization, as the US Securities and Exchange Commission (SEC) formally recognized Canary Capital’s 19b-4 submission for a spot Litecoin ETF.
Traditionally, the authorization of a spot ETF has ignited curiosity and solicitation from institutional financiers and substantial wallet dealers. The ETF’s introduction could additionally stimulate Litecoin’s advancements in the upcoming week.
Bloomberg Intelligence analyst Eric Balchunas remarked on the advancement in a post on X:
Mantra’s recent declaration of a collaboration with real estate titan DAMAC Group to tokenize assets on its network served as a pivotal market impetus for the OM token this week. Mantra co-founder and CEO JP Mullin stated:
> “The alliance with DAMAC Group signifies acknowledgment within the RWA sector. We are thrilled to collaborate with such an esteemed assembly of frontrunners who mirror our aspirations and perceive the immense prospect of incorporating conventional financing avenues onto the blockchain.”
An additional significant market impetus was Bitcoin’s resurgence from a momentary plunge beneath $100,000 on Monday. The interconnectedness between tokens and Bitcoin persists at a relatively elevated level, bolstering their gains. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
## Bitcoin Powers the Ascent of Mantra and Litecoin
In recent times, Bitcoin has exhibited a robust connection in a positive direction with Litecoin (0.84) and Mantra (0.87). This implies that, for the most part, these digital currencies have shifted similarly throughout this timeframe.
