Litecoin has been making significant advancements in its network, leading to increased interest and activity in the cryptocurrency market. One notable achievement is Litecoin’s processing of $2.85 billion in large transactions daily, indicating a high level of whale activity within the network. This transaction volume surpasses that of many other Layer 1 blockchains, with Dogecoin, for example, processing $590 million in large transactions despite having a larger market cap than LTC.
As a result of these developments, the price of LTC has seen a 1.77% increase over the past 24 hours, reaching $70.34 with a daily transaction volume of $288.54 million. Additionally, Litecoin’s MimbleWimble Extension Block (MWEB) adoption is at an all-time high, enhancing privacy and scalability for users. The update allows for optional fungibility, ensuring that transactions remain private and secure.
In terms of mining, Litecoin’s hashrate has reached 1.1 PetaHash per second, enabling the network to handle millions of transactions efficiently. Miner reserves have also decreased by over 28%, indicating higher demand and potentially contributing to future price appreciation. Crypto analyst MASTERBTCLTC predicts that Litecoin’s price will peak in October 2025, suggesting potential for significant growth during the next bull run in the market.
Overall, these positive trends and projections position Litecoin as a cryptocurrency to watch as the market continues to recover and evolve.