Litecoin growth: More than 1 million new addresses per year
Date: 2024-03-30 Author: Henry Casey Categories: CRYPTO PAYMENTS
The Litecoin (LTC) rate increased by 12% over the week, reaching $95 on Friday night. Daily trading volume also increased to $880.627 million, marking a new wave of interest in the digital currency.
According to IntoTheBlock, the number of active wallets on the Litecoin network exceeded 8 million by the end of March 2024, which is a new record for the ecosystem. Analysts emphasize that over the past year the number of Litecoin users, taking into account various volumes, has grown by more than 1 million.
Attractiveness for Investors
Litecoin Foundation Marketing Director Jay Mill notes that investors are attracted by the ability to ensure transaction confidentiality, which was provided by developers several years ago. In addition, the expansion of the network of stores and restaurants where LTC can be used for payments is contributing to the growth in the number of its holders.
Litecoin has been trading below $80 for a long time, but now has the potential to break above $100, especially if the number of its holders increases and demand for this digital asset increases.
