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In the recent crypto market development, Glassnode, a renowned on-chain analytics firm, brought attention to its “Altseason Indicator”, a tool designed to discern if a so-called “altcoin season” is in full swing. 

Altseason Indicator gauges investor sentiment towards risk, focusing on capital netflows among major asset classes like Bitcoin, Ethereum, and stablecoins, as well as the altcoin market cap’s momentum relative to its 30-day Simple Moving Average (SMA).

After a period of dormancy, the Altseason Indicator, which first signaled a risk-on mode last October, reignited interest by suggesting the return of the altcoin season. Amid this shifting landscape, Chainlink (LINK) and Litecoin (LTC), both renowned altcoins, showed remarkable resilience and growth. Despite a challenging week that saw them close in the red, these digital assets bounced back impressively. LTC saw a 7% increase, but it’s LINK that stole the spotlight with a staggering 34% surge. This upward trajectory in a market that’s just warming up to the idea of an altcoin season again adds a layer of intrigue and potential.

Meanwhile, the crypto community is closely watching ScapesMania (MANIA), a project that has recently concluded its presale stage. With its Token Generation Event (TGE) and coming DEX listing on the horizon, MANIA is poised to expand its reach to a broader spectrum of crypto investors in the market that’s seemingly ripe for altcoin advancements.

The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token’s value might increase exponentially in the future.

The spotlight has shifted to the Token Generation Event (TGE) coming up on February 25 – March 09. The pool of tokens is smaller than it was before, the conditions are better than the market average, so the chance to maximize your potential returns is quickly di

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Author: Crypto Daily

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