Like bitcoin, litecoin starts to reframe approaching its halving. There is a scent of joy all around. Recently, IntoTheBlock published statistics regarding the development of LTC addresses. And the details are likely to surprise you.
A frantic race towards Litecoin
At the beginning of this month of June, when we were at Day D-61 of the litecoin halving, we identified 8.8 million LTC addresses with a balance. 20 days later, yesterday, in full celebration of the Fête de la Musique, The Daily Hodl took a look at IntoTheBlock and revealed the recent stats.
” Active addresses and new addresses are on the rise again for Litecoin. Daily active addresses are up 28% 7 days and new addresses are up 54.6% 7 days! »
In other words, the main indicators on the Litecoin blockchain indicate a clear progression lately.
As to number of addresses of LTC, Glassnode put forward figures close to the 200 millions. Saying that the number of ETH addresses is 181 million.
Note also that in May, litecoin outperformed bitcoin on this same classification.
What are the reasons for this development?
I’impending Litecoin halving, scheduled for August 2, certainly has something to do with it. By halving, we mean halving the block reward for LTC miners. At the moment, the amount of this reward is 12.5 LTC. When that day arrives, it will be halved, that is, to 6.25 LTC.
Nor should we neglect the recovery of the cryptocurrency market reported by IntoTheBlock last Sunday.
” In 2023, the cryptocurrency market got off to a strong start, but the Nasdaq has now caught up, outperforming 6 of the top 10 cryptoassets. Year-to-date, only BTC and SOL have significantly outperformed the Nasdaq “.
As for Litecoin, it trades at $86.32 each at the time of writing this article. This represents an increase of approximately 17.3% over 7 days. But it will take 5 times more effort to get to theMay 2021 ATHa period during which the LTC achieved a record of $410.26.
Many hope in this change an increase in the price of this altcoin. Whether gradual, sudden, or fleeting, as bitcoin did recently trading at $138,000 on Binance.US, investors have more thirst for bull run.
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