As a seasoned analyst who has witnessed the rise and fall of countless cryptocurrencies, I must admit that Litecoin‘s (LTC) 100% uptime record since its inception is nothing short of impressive. This is a testament to the network’s robustness and reliability, a rarity in the volatile world of digital assets.
Litecoin (LTC) is commemorating an impressive achievement: it’s never had a moment of downtime since it first began. The Litecoin Foundation’s official account posted a picture of the “Litecoin uptime monitor,” showing that the Litecoin system has been continuously operational from its launch on October 23, 2011.
Litecoin 💯%
— Litecoin Foundation ⚡️ (@LTCFoundation) December 27, 2024
For more than 13 years since its debut in 2011 by Charlie Lee, Litecoin has consistently operated without a single break or downtime. In other words, the Litecoin system has functioned flawlessly throughout this period, processing transactions and safeguarding the blockchain without any hiccups or disruptions.
In the world of cryptocurrencies, this achievement is not common due to frequent technical glitches and network downtimes.
As an analyst, I’d rephrase that statement like this: I’ve found that Litecoin was designed for practical use with a proof-of-work (PoW) consensus mechanism, specifically the Scrypt algorithm. It’s often touted as being more energy-efficient and accessible compared to the SHA-256 algorithm. This design choice is advantageous because it creates a lower entry barrier, encouraging broader participation.
Litecoin network advances
On December 26th, the Litecoin mining network reached an important point as its hashing power exceeded 2 Petahash per second (PH/s) at block height 2,816,339 and a difficulty level of 59,401,111.
Based on IntoTheBlock’s analysis, the average number of daily active Litecoin users surpassed 401,000 in the year 2024, which represented an uptick from the previous year’s figure of 366,000. The busiest day for Litecoin activity occurred early in January 2024, with a staggering 1.37 million users active on that particular day.
Based on information from IntoTheBlock, it’s been found that as of December 23, there were approximately 8.25 million Litecoin addresses carrying a balance. A significant portion of these wallets can be categorized as long-term holders, and an impressive 54% of them are currently enjoying profits from their investment in Litecoin.
Approximately 78% of Litecoin wallets have held onto their LTC for more than a year, as reported by IntoTheBlock. This group of holders is known to accumulate during market downturns and sell close to peak prices. On an average day, Litecoin processes around 195,000 transactions, with the majority being associated with payments.
presently, Litecoin has dropped by 5.13% over the past 24 hours to reach a price of $99.38. It currently holds the 25th position among all cryptocurrencies, with a total market capitalization of approximately $7.48 billion.
Read More
- VANRY PREDICTION. VANRY cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- EUR MYR PREDICTION
- OKB PREDICTION. OKB cryptocurrency
- USD MXN PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- XRP PREDICTION. XRP cryptocurrency
- RSR PREDICTION. RSR cryptocurrency
- DF PREDICTION. DF cryptocurrency
- USD BRL PREDICTION
2024-12-28 18:04