On December 22, the Litecoin network achieved a significant milestone by processing its 200 millionth transaction, indicating rapid growth with over 10 million transactions handled. A day prior to this achievement, Litecoin (LTC) reported a remarkable performance in a post dated December 21. As a cryptocurrency designed for fast, secure, and cost-efficient transactions, Litecoin observed more active addresses than the combined total of Bitcoin (BTC) and Ethereum (ETH) in the preceding 24 hours. This included an extraordinary count of 1.4 million on-chain transactions in a single day.
In line with these developments, IntoTheBlock, a market intelligence platform, reported a resurgence in Litecoin’s activity. Since early December, Litecoin’s daily active addresses have been consistently exceeding those of Ethereum.
As of the latest update, Litecoin’s market value stands at $72.10, marking an 11.1% increase over the last year, based on data from CoinMarketCap.
The ongoing rise in this alternative cryptocurrency (altcoin) is partly credited to the expectations set forth by prominent Litecoin supporter Shan Belew. Belew anticipates increased attention towards Litecoin following the likely approval of a Bitcoin ETF in the coming year. Already closely linked with Bitcoin, Litecoin is witnessing a substantial boost in its network value, now reaching into the thousands.