The circulating supply of Litecoin has reached 75 million coins, with only 9 million coins left to be mined. Litecoin whale activity and on-chain transactions have shown significant growth, reflecting increased market interest.
The circulating supply of Litecoin recently passed a significant milestone, reaching 75 million coins, leaving only around 9 million coins to be mined before reaching the maximum supply cap of 84 million LTC.
This development shows how close Litecoin is to reaching a given supply limit and solidifies its position as one of the more established cryptocurrencies on the market.
This achievement comes at a time of significant increase in the asset’s network activity and social presence, demonstrating renewed interest in this digital asset.
🚨Litecoin circulating supply reaches 75 million!🚨
Exactly 9 million pieces left to mine. Because the largest number of coins that ever existed is #litecoinhas a lifespan of 84 million $LTC ⚡️ pic.twitter.com/7oxoBtVN0G
— Litecoin (@litecoin) September 20, 2024
Whale activity and rising social dominance drive Litecoin
Previously, CNF reported a significant spike in whale activity in the LTC, spiking 25% in early September. More than 1,100 transactions with a total value of more than $100,000 were reported every day, indicating that large investors are increasing their involvement in the Litecoin market.
This increase in engagement coincided with a significant increase in Litecoin’s social dominance, jumping from 0.3% to 2.9%. This surge represents an increase in online interest and interaction within the Litecoin community, indicating a renewed focus on the potential of the cryptocurrency from both retail and institutional investors.
Additionally, as we previously reported, on-chain data revealed in August showed that Litecoin trading volume more than doubled, with more than 412 million LTC, or $26.5 billion, in just one week. indicated that the value of was exchanged.
This incredible on-chain activity fuels the vitality of the network and the utility of Litecoin in large-scale transactions. Litecoin processed 62 million transactions in seven months. This shows that Litecoin is on track to surpass the overall transaction volume recorded last year.
Such impressive statistics demonstrate Litecoin’s ability to manage large volumes of transactions while maintaining network efficiency, and highlight Litecoin’s long-term importance in the ever-changing crypto industry.
Litecoin is currently trading at around $65.64 and has seen price movements over the past 30 days. As September progresses, the coin appears to be looking for rebound momentum.
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