Litecoin has had an impressive rally this year, surging by almost 50%. The latest market crash, however, briefly dragged the altcoin below $87. The selling pressure has since subsided as Litecoin currently trades above $107.
Underpinning its price trajectory is the strong network growth.
Litecoin Network Engagement Soars
Litecoin’s network activity has witnessed a notable surge. In fact, data compiled by IntoTheBlock revealed that the average daily active addresses rose to 401,000 compared to 366,000 in 2023. Meanwhile, network activity peaked in early January, reaching an impressive 1.37 million active addresses in a single day – surpassing the daily activity of both Bitcoin and Ethereum at the time.
This spike demonstrated the protocol’s growing utility and user engagement amidst a bull season in the crypto industry.
Litecoin has also exhibited long-term investor confidence, as evidenced by data revealing that 53.9% of all LTC ever mined has been held without moving for more th
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