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🚀📊 Litecoin Records Growth in Daily Active Addresses in 2024

📈 Surge in Daily Active Addresses
Litecoin saw a 10% increase in daily active addresses in 2024, averaging 401,000 compared to 366,000 in 2023. In January, daily activity peaked at 1.37 million active addresses, briefly surpassing Bitcoin and Ethereum. This surge highlights Litecoin's growing adoption for peer-to-peer transactions and fast, low-fee transfers.

⚡ Network Activity and Market Volatility
The spike in active addresses coincided with market volatility, with traders relying on Litecoin as a reliable transfer medium. Its low transaction fees and faster settlement times contributed to sustained user engagement.

⛏️ Miners Stabilize Selling Pressure
After significant sell-offs in December, Litecoin miners stabilized their reserves, easing selling pressure. This allowed LTC’s price to recover from $87 to reclaim the $100 resistance level, creating favorable conditions for a bullish trend.

🏦 Institutional Interest on the Rise
Grayscale Investments accumulated over 41,100 LTC in the past month, bringing its total holdings to $220 million. Institutional confidence further supports Litecoin’s bullish outlook.

📊 LTC Price Outlook
Currently trading at $102.27, LTC has gained over 41% in the past year. Analysts predict targets between $140-$150 in the near term, with a potential extended rally pushing prices to $200.