Litecoin (LTC), known as digital silver in the cryptocurrency market, is once again seeing a large increase in daily active addresses.
According to the latest on-chain data revealed by IntoTheBlock, total Litecoin active addresses have surpassed Ethereum addresses.
Accordingly, on-chain data provider IntoTheBlock said there has been a significant increase in Litecoin activity, with active LTC addresses increasing by 75%, reaching the highest level since January.
According to this data, Litecoin surpassed ETH by more than 100,000 active addresses.
Similarly, Litecoin transactions, like the number of active addresses, also increased significantly, reaching 426,000 in a single day.
Stating that although most of the transaction increase was due to transactions smaller than $ 10, there was a significant increase in transactions of all sizes, IntoTheBlock said that this increase is an indicator of the interest in Litecoin and its increasing usage status.
“Litecoin Activity Is Rising!
Yesterday, the number of active Litecoin addresses increased by 75%, reaching its highest level since January and surpassing Ethereum by over 100,000.
Similarly, the number of LTC transactions reached 426,000 yesterday.
“Although most of the increase comes from transactions smaller than $10, there is a noticeable increase in transactions of all sizes.”
What Awaits the Litecoin Price?
If we look at the price of Litecoin, IntoTheBlock analysts said that more than 1.4 million addresses purchased 10.53 million LTC at a maximum price of $91.6.
Analysts stated that these addresses taking profits at $92 may prevent Litecoin from recovering at this level, but if LTC manages to stay above $92, it may experience a rapid rise towards $100.
Analysts also predict that if Litecoin miners maintain their monthly savings, the LTC price could surpass the important short-term resistance level at $92.
*This is not investment advice.
