Litecoin Explodes Network Activity – Will LTC Hit $500 During Current Bull Cycle?

During 2024, Litecoin (LTC) recorded an impressive boom in network activity with the average number of daily active addresses reaching 401,000, up from 366,000 in 2023. In particular, in early January, the network The network peaked at 1.37 million active addresses in a day, outpacing both Bitcoin and Ethereum at the time.

Although LTC experienced a temporary drop below $87, the price has now recovered steadily above $107. Analysts predict that Litecoin has a high chance of reaching $500 in the current bull cycle, thanks to optimistic signals in network activity and confidence from the user community. In particular, the effort to increase long-term LTC holdings shows a commitment to no selling in the near term, with 53.9% of total LTC supply having been held for over a year without a transaction.

However, it is also important to note that cryptocurrency market volatility could affect LTC's progress. Strong fundamentals and community engagement will be the main drivers of Litecoin's value in the near future.