Litecoin has seen a notable increase in on-chain activity and usage in recent weeks according to data from analytics firm Santiment.
Specifically, Litecoin’s blockchain has averaged around 319,000 daily active addresses. Additionally, the network saw over 7,400 whale transactions, indicating growing interest from large LTC holders.
This spike in activity comes alongside a rise in Litecoin’s price from $66 on October 23 to over $68 on October 30.
Experts suggest the heightened on-chain engagement is a positive sign for Litecoin as its community and user base seem increasingly active. Some analysts predict LTC’s price could reach $105 by December 2023.
Overall, Litecoin’s surging on-chain activity reinforces its staying power amidst competition from other altcoins. The data shows strong utility and demand driving transactions on Litecoin’s network from both small and large holders.
As adoption continues growing, Litecoin remains a cryptocurrency to watch. Its recent uptick in on-chain engagement highlights Litecoin’s strengths as a secure, decentralized blockchain for payments and transactions.
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