Starting off with the New Year, Litecoin (LTC) has made a noteworthy advancement. It has now processed over 300 million transactions, which represents a notable achievement and a memorable event in the world of cryptocurrencies.
Initiated in October 2011 by Charlie Lee, Litecoin emerged as a counterpart to Bitcoin, aiming to enhance transaction speed and reduce costs through its design.
Just in case you didn’t notice, I wanted to share a brief post commemorating Litecoin reaching its 300 millionth transaction! It’s fascinating to see this milestone achieved, and it’s worth noting that while the G20 and European Central Bank may find it challenging, Litecoin is making great strides. This is courtesy of @LTCFoundation.
— Robbie Coleman (@robertfcoleman) January 6, 2025
Reaching 300 million transactions signifies the widespread use and practicality of Litecoin as a payment system in everyday life. This is because Litecoin has managed to establish itself as a viable option for actual transactions.
2024 marked a substantial surge in Litecoin network transactions. By November 19, 2024, a staggering 84 million transactions had been successfully carried out. Furthermore, as the year drew to a close, yet another record was set: a total of 92,764,978 transactions for the entire year, representing a 38.55% rise over the previous annual high of 66.95 million transactions from 2023.
2024 remarkable year for Litecoin
2024 was a spectacular year for Litecoin, its users and the community, ushering in new milestones.
On January 3rd, 2024, Litecoin boasted a staggering 1.37 million active wallets, outnumbering both Bitcoin and Ethereum combined, according to IntoTheBlock’s findings. Notably, users of this digital currency showed consistent activity throughout the year, averaging approximately 401,000 daily active addresses. This figure represented a 10% increase over the 2023 average of 366,000 daily active wallets.
On December 28, 2024, I observed Litecoin’s hashrate reached an unprecedented height of approximately 1.919 Petahashes per second (PH/s), setting a new record. The hashrate serves as a crucial metric for assessing the security of Litecoin’s network and the commitment of miners participating in it.
In October last year, Canary Capital submitted the initial application (S-1) for a Litecoin Spot ETF to the Securities and Exchange Commission (SEC), with the intention of bringing Litecoin into the mainstream investment market. Following the approval from the Commodity Futures Trading Commission (CTFC), Coinbase launched their Litecoin Futures trading, which quickly gained popularity. The trading volumes have since skyrocketed by 10,950%, fueling Coinbase’s ambition to introduce perpetual futures in Europe.
In July 2024, Fidelity incorporated Litecoin into its platform for both support and custody. This addition placed Litecoin alongside Bitcoin and Ethereum within Fidelity’s institutional trading offerings. As of now, Litecoin had surged by 1.63% over the past 24 hours to reach $113.51, and in the last seven days, its value has risen by 12%.
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2025-01-06 16:32