Many cryptocurrency market enthusiasts seek to know whether investing in Litecoin (LTC) is worth it. A recent survey revealed how much the network has been growing, reaching an impressive peak and putting blockchain in the spotlight in recent months given its remarkable development.

According to data released on June 7th by the analysis platform, IntoTheBlock, highlighted that activity on the Litecoin network is increasing. On June 6, the number of active addresses on the Litecoin network saw an impressive increase of 75%.

The significant increase led the blockchain to reach the highest level since January, in addition to achieving an important feat by surpassing Ethereum (ETH), the second largest blockchain, by more than 100,000, according to the data.

The survey also revealed that, similarly, the number of Litecoin token transactions reached 426,000 on June 6. “While most of the increase is due to transactions under $10, there is a notable increase in transactions of all sizes,” the platform’s analysts noted.

At the time of publication, the price of Litecoin was quoted at US$83.84, down 1.8% in the last 24 hours. During this period, LTC trading volume was US$313,304,016, representing an increase of 19.40% compared to the previous day and signaling a recent increase in market activity. In the last 30 days, the LTC token has appreciated in price by 4.0%.

It is worth remembering that, since March, LTC has been experiencing great movement in its network, highlighting the potential future growth of the cryptocurrency, in addition to investor confidence. In April, the Litecoin (LTC) blockchain experienced unusual transaction volume as LTC token holders were cashing in on the market crash experienced at that time.

Cryptocurrency analytics platform Santiment noted in an April analysis that LTC transactions were significantly higher than normal during the previous month, fueling a major recovery in the cryptocurrency.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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