Litecoin has experienced a significant increase in active addresses, surpassing Bitcoin and Ethereum in terms of usage. According to data from Santiment, Litecoin has more than doubled its Daily Active Addresses this month. This metric tracks the total number of addresses involved in transaction activity on the network daily, indicating the level of traffic on the Litecoin blockchain.
High values in active addresses suggest a strong interest in the asset, while low values may indicate lower investor attention. The recent surge in active addresses for Litecoin has been notable, with the average count reaching 704,000 compared to 345,000 in May. This surge in activity has also been accompanied by an increase in the number of new addresses being opened on the network.
Despite the stagnant price of Litecoin, its usage metrics have seen a significant spike, making it the most used cryptocurrency currently. Litecoin’s network is known for its fast and affordable transactions, which continue to attract users despite the price fluctuations.
As for the price of LTC, it has remained around $77 following the April crash. The price chart shows a sideways movement over the past few months. Overall, Litecoin’s active addresses have seen a remarkable increase, indicating a growing interest and adoption of the cryptocurrency.