Litecoin Surpasses Ethereum in Number of Active Addresses

Santiment, the on-chain data provider, states that Litecoin has surpassed Ethereum in terms of active wallet addresses. In addition, according to the data provider, Litecoin payment count hit its all-time high at 600k daily users. The number allowed the UTXO crypto to beat the top DeFi and NFT platform.

Most LTC forecasts have failed with the latest announcement, and traders are looking for an updated Litecoin price prediction. The fact that Litecoin does not enjoy the benefit of NFT or DeFi transactions makes the achievement even more impressive.

Santiment released one more crucial metric regarding Litecoin’s payment count. The metrics revealed that LTC had hit its all-time payment high, breaking the 2017 record. The provider added that the UTXO metrics account for addresses that are receiving LTC. That is why it is really close to the number of active addresses. Since Litecoin belongs to UTXO, maybe its on-chain interaction should be compared to BTC.

However, even at its all-time high, Litecoin is nowhere near Bitcoin’s active addresses. The network boasted over a million active daily addresses in August 2021, which must have increased by now. Nonetheless, the fact stands that LTC managed to outperform the second-biggest crypto in the industry. 

But even with the recent surge, Litecoin’s price is still trading around the 173 dollar mark. The crypto has acquired around 11.9 billion dollars in market cap, with the token trading at 173.78 dollars.

The coin reached its year-high in September when it touched 223 dollars. However, the major reason behind the surge was rumors that Walmart would accept Litecoin payments. That is why the price only remained at the mark for less than 24 hours before dropping to its original state. 

The rumors increased after a Litecoin executive tweeted about it, only to pull it down afterward. Charlie Lee, Litecoin Founder, assured that the network would find out how the fake news surfaced. Unfortunately, there has been no news on the matter till now, and the topic will probably never resurface. 

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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