- Litecoin’s wallet addresses surged by 75%, surpassing Ethereum by over 100,000 addresses.
- Litecoin recorded 426,000 transactions on Thursday, hitting a new transaction volume record.
- Bitcoin and Ethereum see modest price increases in the cryptocurrency market resurgence.
The cryptocurrency market has recently shown signs of resurgence, with leading digital currencies Bitcoin
Reports from IntoTheBlock reveal that despite the dip in its price, Litecoin has seen a boost in on-chain activity. Impressively, the number of wallet addresses for the token surged by 75% on Thursday, even surpassing Ethereum’s wallet holders by more than 100,000 addresses. This has pushed the count of wallet addresses to its highest point since January 2024.
Additionally, Litecoin has not just seen an increase in users but also in transaction volume. On Thursday, the transaction count hit a new record of 426,000, drawing attention from the market due to the spike in activity despite the recent price declines.
IntoTheBlock data also highlights that within these transactions, Litecoin recorded a significant $16.4 billion worth of transactions exceeding $100K. Moreover, transactions under $10 played a major role in Litecoin’s heightened activity, indicating a bullish trend in its on-chain movements.
Price Overview for Litecoin
As of this writing, Litecoin is trading at $84.50, with a trading volume of around $311 million. Data from CMC shows that after experiencing an uptick in price over the past couple of days, Litecoin’s market price began to decline again on Friday. Currently, Litecoin’s market capitalization stands at $6.3 billion.
Broadening the perspective, Litecoin’s monthly value performance has risen by 4.15%, an increase of 15.57% since the beginning of the year. The cryptocurrency’s short-term 9-day Moving Average is currently lower than its long-term 21-day Moving Average, signaling a recent downturn in market value. Furthermore, Litecoin’s Relative Strength Index (RSI) of 48.94 indicates a neutral market sentiment, as per data from TradingView.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
