Remarkable shifts are occurring in the broader cryptocurrency ecosystem with Litecoin (LTC) now becoming the world’s most active blockchain in terms of active addresses. According to data from IntoTheBlock, Litecoin has experienced a surge that places it above both Bitcoin (BTC) and Ethereum (ETH) in terms of genuine active addresses.
Surge in Litecoin’s Active Addresses
Notably, on Sunday, June 23, Litecoin, one of the world’s leading cryptocurrency payment processors, recorded a total of 664,004 new addresses. In total, the exchange boasts 802,470 active addresses. Litecoin’s total addresses reflect those that have engaged in one or more on-chain transactions.
🚨Litecoin is the most active blockchain the world🚨
Continuing to surpass #Bitcoin $BTC and #Ethereum $ETH in authentic active addresses.
Source: @intotheblock Addresses that made one or more on-chain transactions. #Litecoin ⚡️ $LTC pic.twitter.com/XVEd69k4x7
— Litecoin (@litecoin) June 26, 2024
Furthermore, Litecoin now has 1.47 million addresses in total. Although this is less than the peak reached in early January, it was sufficient to surpass the number of active addresses in the world’s leading digital asset, Bitcoin as well as Ethereum.
Despite this notable achievement, Litecoin is yet to attain the $74 critical level it last attained on June 23. As per CoinMarketCap data, Litecoin is currently trading at $70.71. While the recent milestone is a crucial one, the downturn is a function of the broader bearish market sentiment.
In early June, the cryptocurrency had bagged over 250 million transactions on its platform. Analysts consider the network’s cheaper fees and speed of transactions an advantage which is responsible for its wider adoption.
Litecoin Dominates Crypto Payments
According to a May report, Litecoin dominated the crypto space, emerging as the top payment processor as over 41% of transactions on BitPay were on the blockchain. Interestingly, as per that report, Litecoin also outshone Bitcoin, Dogecoin, and Ethereum.
Although the price of Litecoin is only a tiny fraction of Bitcoin and Ethereum, market watchers believe the achievement of recording the most active addresses is a major win for the blockchain.
Founded by Charlie Lee in 2011, Litecoin has become a viable alternative to many users engaged in everyday transactions and micropayments.
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