Litecoin’s on-chain transaction volume more than doubled, reaching 412 million LTC transferred in one week, exceeding $26.5 billion. Litecoin has achieved 62 million transactions in seven months and is on track to surpass last year’s total transaction count.
Jay, director of the Litecoin Foundation, highlighted a fairly significant increase in Litecoin’s on-chain activity. Over the past year, Litecoin’s on-chain transaction volume has more than doubled and nearly tripled.
Litecoin’s on-chain activity is incredible. The amount of on-chain on the network has more than doubled in the last year. From 196 million LTCs moved on-chain (week of August 14, 2023) to a steady increase from last week to over 412 million. $LTC It’s moving! S: @totheblock pic.twitter.com/rQg2vu9gZh
— Jay Ⓜ️🕸️ (@MillaLiraj) August 20, 2024
Litecoin on-chain transaction volume surges to $26.5 billion in one week
Network activity has been consistently increasing, with 196 million LTC moving on-chain in the week ending August 14, 2023, and over 412 million LTC moving in the most recent week. .
This expansion, which is more than five times the asset’s current market capitalization, will result in $26.5 billion worth of Litecoin being transferred on-chain in just one week.
Litecoin (LTC) is trading at around $63.34 at the time of writing, down 1.47% over the past 24 hours. The daily trading volume is approximately $318.21 million.
Following the recent V-shaped recovery, this price movement indicates a correction phase that suggested there was a sustained wave of interest for several days before momentum began to wane.
However, Litecoin continues to show notable increases in several network metrics. As we previously reported, this asset has witnessed a significant rise in transactions, active addresses, and hashrate, making it one of the most frequently utilized digital assets for payments on sites like BitPay. It has been confirmed that there is.
Notably, Litecoin’s average transaction fees are modest (just $0.005 in 2024), making it a smarter choice for everyday use than Bitcoin, which has transaction fees 200 times higher.
Furthermore, according to CNF, Litecoin has reached historic levels, with 62 million transactions processed in the first seven months of this year alone. This speed highlights Litecoin’s increasing acceptance and usage in the digital currency market, as it is on track to surpass the total number of transactions over the past year.
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