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Litecoin Network Activity Surges, Reaching 401,000 Daily Active Addresses
According to recent data, the Litecoin network has witnessed a remarkable surge in activity. As of late, the average daily active addresses have risen to a staggering 401,000, marking a substantial increase from last year’s figure of 366,000.
Notably, this upsurge is not an isolated phenomenon. In fact, Litecoin’s peak network activity reached an impressive 1.37 million active addresses in early January, eclipsing that of both Bitcoin and Ethereum at the time. This spike underscores the protocol’s growing utility and user engagement amidst a bull season in the crypto industry.
Furthermore, statistics reveal that a substantial portion of Litecoin has been held without movement for over a year, indicating a high level of long-term investor confidence. Specifically, 53.9% of all LTC ever mined has not been moved in more than a year, suggesting that a significant percentage of its supply remains off the market.
Additionally, data shows that an overwhelming majority of Litecoin holders have chosen to hold onto their assets for extended periods. In fact, a staggering 85.8% of all Litecoin has been held for over a month, highlighting a preference for sustained ownership among investors. Notably, the average hold time per LTC stands at approximately 2.4 years, implying that many holders view it as a long-term investment.
As the crypto market continues to evolve, this surge in network activity and investor confidence can be seen as a promising sign for Litecoin’s future performance.
Source: cryptopotato.com
