The post Litecoin ‘outperforms’ Dogecoin on THIS front after 13% price hike appeared on BitcoinEthereumNews.com.

Litecoin now processing $2.85 billion in transactions over $100k daily average Altcoin’s price hiked by over 13% in seven days, but trend might change Litecoin [LTC] has seen a major rise in its network activity lately, one that clearly reflects its popularity and high usage. In the meantime, the crypto’s price action also turned bullish as it registered double-digit growth. Let’s have a closer look at the Litecoin ecosystem.  A look at Litecoin’s network activity Int0TheBlock recently shared a tweet revealing an interesting development related to the Litecoin ecosystem. According to the same, Litecoin is processing $2.85 billion in transactions over its $100k daily average. This accounts for more than 50% of the cryptos’ market capitalization. This figure is more than most Layer 1s’s figures. For example, Dogecoin sees $590 million in large transactions, despite having roughly three times Litecoin’s market cap. All these developments suggest that whale activity on Litecoin’s network has been considerably high. AMBCrypto then checked Glassnode’s data to find out more about LTC’s network activity. We found that its active addresses spiked on 9 July and reached 478k. Thanks to the same, the blockchain’s daily transactions also rose during the same period. Everything in terms of captured value also seemed pretty optimistic for the blockchain. This was the case as its fees registered an uptick on the charts.  Source: Glassnode Litecoin bulls are back in action While the blockchain’s network activity increased, reflecting more usage and adoption, LTC’s price action also turned bullish. In fact, the altcoin’s price hiked by more than 13% in the last 7 days. It appreciated by over 2% in the last 24 hours alone. At the time of writing, Litecoin was trading at $70.17 with a market cap of over $5.24 billion, making it the 20th largest crypto. We then analyzed…

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Filed under: News - @ July 14, 2024 6:00 am