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Why is the price of Litecoin (LTC) rising today?

Source: CoinWorld
Litecoin price soared 5.5% to $116.74, driven mainly by Whale's single-day increase in holdings of 181,000 Litecoins and Grayscale's Litecoin ETF application. MEI Pharma changed its name to Lite Strategy and acquired Litecoin worth $100 million, while the network hash rate set a record of 3.5 trillion times per second, indicating strong fundamentals.
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