In a surprising development for cryptocurrencies, Litecoin (LTC) has surpassed both Bitcoin (BTC) and Ethereum (ETH) in network activity. In fact, according to Santiment, LTC saw a 110% increase in daily active addresses last week, making the asset outperform the two leading cryptocurrencies.
This development marked the first time that Litecoin was able to surpass two prominent digital assets. Additionally, the number of active addresses for the day reached a high of 728,000, surpassing Ethereum’s 593,000 BTC and 419,000 BTC. After that, all eyes are on LTC, which has the potential to organize a spectacular rally from this indicator.
Source: Blockchain Reporter
Also read: CFTC slams Ethereum and Litecoin products in KuCoin lawsuit
LTC rally coming? Litecoin could forge a win against BTC and ETH
Digital asset markets are at the heart of the financial sector, with the midpoint of 2024 approaching. Bitcoin continued its early momentum and hit an all-time high in March, reaching $73,000. Additionally, Ethereum joins major cryptocurrencies as the second asset to be approved for spot ETFs this year.
However, both of these cryptocurrencies were overtaken by unlikely competitors in one key metric. In fact, Litecoin (LTC) has recently surpassed both Bitcoin and Ethereum in network activity. Specifically, this asset saw a significant increase in the number of daily active addresses, outpacing both major assets.
Source: Santiment
Also read: Litecoin transactions will exceed 180 million in 2023 as adoption accelerates
Additionally, the market is now focused on how LTC can respond to the increase in metrics. The daily influx of active addresses indicates a growing consumer base and should impact prices. However, the value of this asset has declined over the past few weeks.
Litecoin is currently down 4% in the past month, according to CoinMarketCap. It is currently trading at $77.74, but there are expectations that it could skyrocket in the coming days. In the past 24 hours, that amount has surged by almost 60%. This is an interesting part of the growth equation.
