Analytics Firm Says Litecoin Should Not Be Ignored: Why?

The market intelligence tool IntoTheBlock outlined why on-chain analytics make Litecoin (LTC) worth considering.

Significant Activity Has Continued In Litecoin Recently
IntoTheBlock examined Litecoin's important on-chain metrics in a new X article. The analytics business released this infographic.

The latest six LTC on-chain stats | From IntoTheBlock on X
The Litecoin blockchain has 370,000 daily active addresses, according to statistics. An address is considered ‘active’ when it participates in network transactions as a receiver or sender.

The metric's value indicates bitcoin use. Daily transactions show how active these users are.

Today, LTC users make 200,000 transactions. IntoTheBlock notes that this level of user engagement is greater than on Dogecoin (DOGE) and Cardano.

The analytics company says “Much of this activity stems from Litecoin being one of the few cryptocurrencies actively used for payments.” LTC transactions are cheap and rapid, thus it's always been a favorite payment network. Activity indicators have remained strong (and even increased over the last month), indicating that this chain selling point is still drawing people.

Transaction volume, which tracks daily USD value sent to the network, is another activity-related measure in the infographic. Interestingly, this indication is $10.27 billion, larger than the coin's market cap.

Litecoin's price rise has stagnated despite its activity-related success. Thus, just 72% of network addresses have unrealized advantage.

This still implies most are above water, but Bitcoin (BTC) is close to 100% thanks to the bull run. However, given the potential of a big selloff increases when investors get into gains, Litecoin may have more space to go.

78% of the 7.94 million Litecoin holders have been HODLing for over a year, suggesting that most users agree.

“Litecoin shouldn't be overlooked as one of the older Layer 1 networks still seeing significant usage,” writes IntoTheBlock.

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