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Wednesday, June 12, 2024
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Litecoin beats Bitcoin and Ethereum in network activity

This development is the first time Litecoin has been able to surpass two prominent digital assets. Furthermore, its daily active address count reached a high of 728,000, surpassing Ethereum’s 593,000 BTC and 419,000 BTC. All eyes then turned to LTC’s potential to stage an epic rally from the index.

Litecoin Can Build Wins Against BTC and ETH

The digital asset market has become central to the financial sector as mid-2024 fast approaches. Bitcoin carried its initial momentum to an all-time high in March, reaching $73,000. Furthermore, Ethereum joined the leading cryptocurrency as the second asset to receive spot ETF approval this year.

However, both of those cryptocurrencies were surpassed in one important metric by an unexpected competitor. Litecoin (LTC) recently beat both Bitcoin and Ethereum in network activity. Specifically, this asset has seen a massive increase in the number of daily active addresses, exceeding both leading assets.

Furthermore, the market is now observing how LTC might react to the rising figures. A wide range of daily active addresses indicates a growing consumer base, which will influence prices. However, the asset has dropped in value over the past few weeks.

Litecoin is currently at a 4% month-over-month decline, according to CoinMarketCap . Currently trading at $77.74, there are hopes that it could skyrocket in the coming days. In the past 24 hours, its volume has increased by almost 60%, which is an interesting part of the growing equation.

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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