19.4 C
25 June 2024
Image default

Litecoin (LTC) Beats Bitcoin & Ethereum in Network Activity

In a surprising development for the cryptocurrency, Litecoin (LTC) has surpassed both Bitcoin (BTC) and Ethereum (ETH) in network activity. Indeed, the asset has surpassed the two leading cryptocurrencies, as LTC saw a 110% surge in daily active addresses over the last week, according to Santiment.

The development was the first time that Litecoin was able to surpass the two prominent digital assets. Moreover, its daily active address figures reached heights of 728,000, surpassing BTCs 593,000 and 419,000 by Ethereum. Subsequently, all eyes are on LTCs potential to orchestrate an epic rally from the metric.

Source: Blockchain Reporter

Also Read: CFTC Calls Ethereum & Litecoin Commodities in KuCoin Lawsuit

LTC Rally Incoming? Litecoin Could Build Off its Victory Over BTC and ETH

The digital asset market has been at the center of the finance sector, with the midpoint of 2024 fast approaching. Bitcoin had carried its early momentum to an all-time high in March, reaching $73,000. Moreover, Ethereum joined the leading cryptocurrency as the second asset to receive spot ETF approval this year.

However, both of those cryptocurrencies were surpassed in one key metric by an unlikely competitor. Indeed, Litecoin (LTC) has recently beaten both Bitcoin and Ethereum in network activity. Specifically, the asset saw a massive surge in daily active addressees that exceeded both the leading assets.

Source: Santiment

Also Read: Litecoin Transactions Surpass 180 Million in 2023 as Adoption Accelerates

Moreover, the market is now observing how LTC could respond to the metric increase. An influx of daily active addresses shows a growing consumer base, which should impact the price. However, the asset has seen its value decrease over the last several weeks.

Litecoin is currently in the midst of a 4% decline over the last month, according to CoinMarketCap. Trading at $77.74 currently, there is hope that it could surge in the coming days. Over the past 24 hours, its volume has surged almost 60%, which is an interesting part of the growing equation.

Related posts

How High Can Solana [SOL] Surge By The End Of April 2024?


DeFi is spreading beyond Ethereum: Single Neo app gains $300m after launch


Ethereum (ETH) Has Seven Reasons to Be Bullish: Expert Lark Davis

Verified by MonsterInsights