IntoTheBlock has recently revealed that Litecoin has outperformed Ethereum in terms of active addresses. The total number of active Litecoin addresses has surpassed that of Ethereum, marking a significant increase in Litecoin activity. According to the data provided by IntoTheBlock, the number of active LTC addresses has surged by 75%, reaching its highest level since January.
In addition to the increase in active addresses, the number of Litecoin transactions has also seen a substantial rise, reaching 426,000 in a single day. While most of the transaction increase came from smaller transactions under $10, there was also a noticeable uptick in transactions of all sizes. This surge in activity indicates a growing interest in Litecoin and its expanding usage.
Analysts at IntoTheBlock have noted that over 1.4 million addresses have purchased 10.53 million LTC at a maximum price of $91.6. However, they caution that addresses taking profits at $92 could hinder Litecoin’s recovery at this level. If LTC manages to remain above $92, analysts predict a swift rise towards $100. Furthermore, if Litecoin miners maintain their monthly savings, the price of LTC could potentially surpass the key short-term resistance level at $92.
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