Litecoin network activity increases and LTC shows bullish signs; Epic rally?

The Litecoin (LTC) ecosystem has been standing out on the scene with its continuous growth in recent months. Recently, the blockchain has experienced a significant increase in its network activity, signaling that a potential price rally may be on the horizon.

Analysts at the on-chain platform Santiment revealed a survey, released on June 11, that the Litecoin blockchain recorded an average of 704,000 unique addresses that were interacting on the network last week, surpassing the 345,000 addresses last month, a clear growth established in recent weeks.

Is an epic rally for Litecoin on the way? The analysis noted the continued growth of addresses on the network along with its RSI index in an opportunity zone, suggesting that the LTC token may be foreshadowing a recovery soon.

“Litecoin averaged approximately 704,000 unique addresses interacting on the network last week, after averaging approximately 345,000 addresses in May. The network more than doubling in active addresses, along with its RSI in an opportunity zone, could be foreshadowing a recovery in $LTC,” the analysis highlighted.

⚡️ Litecoin has averaged ~704K unique addresses interacting on the network over the past week after averaging ~345K addresses throughout May. The network more than doubling in active addresses, along with its RSI well into an opportunity zone, may be foreshadowing an $LTC bounce. pic.twitter.com/7AJfY1tTSJ

— Santiment (@santimentfeed) June 11, 2024

At the time of publication, the price of Litecoin was quoted at US$77.90, down 1.7% in the last 24 hours. Litecoin (LTC) trading volume is $532,101,418 in the last 24 hours, representing an 83.50% increase from the previous day, signaling a recent uptick in LTC market activity.

Is Litecoin worth it? LTC peaks and activity surpasses Ethereum

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.

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