Litecoin Network Surpasses 200 Million Transactions as Adoption Accelerates

Last updated: December 23, 2023 9:18 AM

Published December 23, 2023 9:18 AM

Last updated: December 23, 2023 9:18 AM

Published December 23, 2023 9:18 AM

The Litecoin network continues to gain momentum, as it crosses a major milestone this week.

On December 22nd, the Litecoin blockchain reportedly processed its 200 millionth transaction, showcasing impressive growth for the cryptocurrency.

In just the past 24 hours alone, Litecoin facilitated over 1.4 million on-chain transactions, which is more than Bitcoin and Ethereum combined.

The #Litecoin network just processed its 200 millionth transaction! Litecoin is accelerating, processing over 10 million transactions in the last two weeks!! ⚡ $LTC pic.twitter.com/dVj2vro4lz
— Litecoin (@litecoin) December 22, 2023

According IntoTheBlock, Litecoin’s network activity has been surging this month, with daily active addresses consistently exceeding those of Ethereum since early December. This resurgence comes at an opportune time, as anticipation builds for a potential Bitcoin ETF approval in 2023.

Litecoin activity is on the rise again! Interestingly, the number of daily active Litecoin addresses has consistently surpassed Ethereum's since the start of December.
🔗https://t.co/C8kLwpNkpp pic.twitter.com/vddYYfR0XM
— IntoTheBlock (@intotheblock) December 20, 2023

Many experts, including prominent Litecoin advocate Shan Belew, believe Litecoin is poised for increased promotion on the heels of a Bitcoin ETF greenlight next year. With Litecoin closely associated with Bitcoin, this mainstream endorsement could further boost the altcoin’s value and network usage.

At present, Litecoin is trading around $72, up over 11% from this time last year according to CoinMarketCap. As the Litecoin network processes its 200 millionth transaction, the accelerating growth paints an optimistic picture for the cryptocurrency heading into 2023.