Litecoin (LTC) is experiencing a notable uptick, surpassing the $73 mark for the first time since July.
This marks its first substantial breakout from Bitcoin and other altcoins since the spring, driven by two key factors:
A significant increase in on-chain transaction volume, with daily transactions nearing an impressive $4 billion.
Growing retail interest in LTC, fueled by ongoing development efforts and initiatives from the long-standing network.
Litecoin is enjoying a nice mini run, jumping above $73 for the first time since July. This is its first mid-sized breakout from Bitcoin and altcoins since the spring. Two major factors are:
LTC’s continued rise of on-chain transaction volume, which has nearly crossed $4B… pic.twitter.com/oSKt7mRC2L
— Santiment (@santimentfeed) October 17, 2024
This upward trend has sparked renewed interest in Litecoin, with the cryptocurrency’s price surpassing $70 and now setting its sights on the psychological milestone of $100. Recent gains of 10.64% have been supported by Bitcoin’s rally, further boosting Litecoin’s momentum.
LITECOIN SURGES TO $4 BILLION DAILY TRANSACTIONS
Litecoin (LTC) is on fire, hitting a whopping $4 billion in intraday trading volume, a 16-month high, according to Sentiment data.
This surge reflects a growing buzz around the cryptocurrency, with its price climbing past $70… pic.twitter.com/E7Rla9aqFR
— Crypto Town Hall (@Crypto_TownHall) October 19, 2024
Additionally, Litecoin is seeing wider adoption as a preferred payment option among various payment gateways, helping to strengthen its position in the ever-competitive crypto market.
Litecoin’s 13th Anniversary Celebration
This week also marked a significant milestone for Litecoin, as the network celebrated its 13th anniversary. In 2024 alone, Litecoin has already completed a record-breaking 77 million transactions, underscoring its growing role in the world of digital currencies.
As of today, Litecoin’s 13th Birthday, the Litecoin network has completed a record breaking 77 million transactions so far in 2024!! #LFG
7⃣7⃣ MILLION
THE MOST ACTIVE YEAR IN LITECOIN’S HISTORY! pic.twitter.com/AD3vopV0oy
— Litecoin (@litecoin) October 13, 2024
As more investors and retail users take interest in Litecoin, the cryptocurrency is proving its resilience and relevance in an evolving market. With increasing adoption and consistent network growth, Litecoin continues to establish itself as a critical player in the cryptocurrency ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: winst2014/123RF // Image Effects by Colorcinch