Litecoin (LTC) active addresses have surged by 75%, indicating a growing network adoption. This surge in addresses, now over 600,000, surpasses Ethereum (ETH) by 100,000. The increase in addresses shows a rise in adoption and network growth.
The network has also processed over 40 million transactions, demonstrating a significant increase in activity and interest. Daily transactions have reached 426,000, with most transactions being under $10.
The rise of LTC as a payment option may be contributing to the increase in transactions. Litecoin (LTC) has seen a 41% growth in dominance as a payment method on BitPay, reaching a new all-time high. In comparison, MATIC, BCH, and USDT were at the bottom with lower payment counts.
Despite facing challenges post-halving earlier this year, LTC is currently trading at $80 with a 1.5% rally in the last 24 hours. The altcoin is working to break a $100 resistance level, which can only happen if it maintains support above $92.
Recent whale and miner accumulations, as well as the potential approval of an LTC spot ETF, are factors fueling a positive outlook for Litecoin. Founder Charlie Lee is optimistic about the approval of an LTC ETF, highlighting the similarities between Litecoin and Bitcoin that could influence regulators’ decisions.
Overall, Litecoin’s growing network adoption and potential developments suggest a promising future for the cryptocurrency.