Things are looking quite positive for Litecoin right now. Yesterday’s price surge was greeted with a lot of optimism. Unfortunately, it was rather difficult to maintain such massive momentum for multiple days. One thing’s for sure, though: the number of network transactions is on the rise. That is a growing sign of LTC usage, which is always a good thing.
Looking at the charts, it seems Litecoin broke a new 244-hour record where network transactions are concerned. With over 27,000 transactions in 24 hours, things are definitely picking up. The previous “high” was around 20,000. It is evident there is a growing number of LTC transactions, which is a positive sign for the network. Do keep in mind this number does not include exchange trade transactions. These are all fund transfers between actual users on the network.
LTC Is Making A Lot of Waves Right Now
Even so, this number is incredibly small compared to most other cryptocurrencies. If Bitcoin only managed 27,000 transactions in 24 hours, people would laugh it off. Then again, Litecoin has been flying under the radar for quite some time now. Ever since its meteoric rise in 2013, Litecoin has been ignored by a lot of cryptocurrency users. Slowly but surely, the currency is making a strong comeback. The road will be filled with obstacles, though, which is only to be expected.
Despite some minor setbacks across the exchanges right now, Litecoin is still doing just fine. Its market cap has grown to over US$2.2bn for the first time in history. That alone indicates Litecoin is finally getting the attention it so rightfully deserves. There is also an increase in trading volume. Right now, the 24-hour volume sits at US$1. 459bn, which is quite impressive. In fact, it is slightly higher than Bitcoin’s, although only by a small margin.
Things are looking rather optimistic for Litecoin right now. LTC Holders will be more than happy with the way things are evolving. If this momentum keeps up, the LTC value may jump to US$50 pretty soon. Maintaining the momentum is the number one priority right now, that much is evident. Now is the time to keep the faith in Litecoin strong, as good things are about to happen sooner or later.
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