Daily Crypto News

Litecoin (LTC) Hits Massive Milestone, Surpassing BTC

Litecoin likewise matching increase in network transactions with address activity

Read U.TODAY on

Google News

On-chain analytics startup IntoTheBlock reports a major milestone for LTC. In a tweet, IntoTheBlock reports that Litecoin has reached a massive milestone, hitting more than one million transactions in one day.

Nov. 14 was a historic day for Litecoin as it not only set a new all-time high in its transactions but also surpassed Bitcoin. Litecoin saw nearly twice as many transactions as Bitcoin on that day.

Litecoin’s official X handle reports the historic milestone reached. It noted that the Litecoin network handled 1.3 million transactions, surpassing Bitcoin, which only processed 430,000 transactions.

Litecoin is likewise matching the increase in network transactions with an increase in address activity. Daily active addresses, a major indicator of network utilization and user activity, indicate an interesting hierarchy, according to IntoTheBlock, with Bitcoin dominating with 960,000 daily active addresses.

With 797,000 daily active addresses, Litecoin comes surprisingly close, indicating strong network utilization. According to IntoTheBlock, this high amount of activity could suggest a large and active user base.

With 405,000 daily active addresses, Ethereum is now ranked third. Despite this, Ethereum continues to be one of the networks with the most active users.

Over 300,000 new Ordinals were inscribed on the Litecoin network in the last week, marking yet another milestone.

Bakkt, a leading trading and custody services provider, has announced the addition of six additional coins, including Litecoin, to their relaunched enhanced custody platform.

About the author

Read More: Litecoin (LTC) Hits Massive Milestone, Surpassing BTC

Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. NewsOfBitcoin.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.