Litecoin activity has been ramping up over the course of the year, with average transaction counts reaching around 62% of BTC in the last 24 hours.
Being an attractive option for both individual users and businesses seeking reliable cost-effective crypto solutions, LTC transactions reach well-above the 6-digit mark on a daily basis. Specifically, LTC registered 237,773 transactions to BTC’s 379,741 in the last 24 hours, with tx counts forming higher troughs over a 12-month period, per data from bitinfocharts.
Since 2023, the cryptocurrency has seen a significant uptick and variability in usage as it continues to establish itself as a popular money for payments with an enviable fundamental value proposition. Ongoing adoption is demonstrated by blockchain milestones that have been consistently broken as active addresses enjoy an upwards growth trajectory.
Data from BitPay, a leading global crypto payments service provider, shows Litecoin as the most used cryptocurrency for transactions on the platform, with LTC taking up 34.3% of all transactions in July 2024.
MWEB adoption
Additionally, Litecoin’s practical application became all the more compelling since the launch of MimbleWimble Extension Blocks in 2022, a privacy-preserving tool built on the blockchain.
Over a 12-month period, MWEB usage has been on the rise, with the MWEB balance reaching 63,769.33978575 LTC at the time of writing.
It’s frequently noted that consistently positive fundamental Litecoin data rests within an arm’s length of Bitcoin, despite users being fairly reserved when it comes to fleshing out the significance of such an observation.
While Litecoin has no marketing department, speculators and investors have spotted the gaping market value asymmetry between the two monetary juggernauts. And as more astute observers catch on, this multi-billion dollar gap may not be open for much longer.
Regardless, as merchants and platforms open their doors to Litecoin, its usage is expected to grow, potentially reaching an exponential growth trajectory in the years ahead.
Factors such as low transaction fees, faster transaction times, and Litecoin’s well-established legitimacy since its launch in 2011 have contributed to this positive trend.
Buy, trade and exchange Litecoin on reviewed exchanges here.
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