Overview

• Litecoin [LTC] and Mastercard have announced a partnership to introduce the Litecoin Mastercard in the UK and Europe.
• Sharks have increased their holdings by over 4% as price rallies.
• Investors reacted well to the news, driving LTC’s value to its last peak in May 2022.

Litecoin-Mastercard Partnership

The collaboration between Litecoin [LTC] and Mastercard, a well-known payment provider, is a big step towards Litecoin’s acceptance and use in regular transactions. The expansion of Litecoin’s reach and use cases will result from its inclusion into Mastercard’s network, which also presents new chances for merchants and companies to accept Litecoin as payment. Additionally, sharks (addresses holding 100-10,000 LTCs) have contributed 1.15M more coins or 4.92% more coins over the last six months – catalyzing a price surge that drove the value of LTC to its peak of May 2022.

Market Value To Realized Value (MVRV)

Looking at Litecoin’s 30 and 365-day Market Value to Realized Value (MVRV) may help one understand how profitable or unsuccessful this cryptocurrency has been: The 30-day MVRV indicated that LTC was making a profit of 10.24%, while the longer MVRV was 32.97%.

Price Analysis

At the time of writing, Litecoin was up over 2%, trading at about $93.5 per coin – having gained over 50% on a daily time scale since its last peak in May 2022.

Conclusion

With an increasing number of partnerships with traditional finance players like Mastercard, additional accumulation efforts by Sharks may drive future price rallies for LTC; however investors should be aware of market volatility when investing in cryptocurrencies like Litecoin or any other digital asset class for that matter!

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