Global #Litecoin

It's uncommon for Litecoin (LTC) to surpass Ethereum (ETH) in any metric. However, on June 6, the number of active addresses on Litecoin's network surged dramatically by 75%.

The rise in active addresses and transaction volume could significantly impact Litecoin's market performance, with analysts expecting a favorable trajectory for LTC's price.

Despite Cardano's higher market capitalization compared to Litecoin by nearly $10 billion, its network activity falls significantly short. On May 31st, Litecoin recorded 357,260 active addresses, whereas Cardano only had 28,630, indicating a substantial difference in user engagement.

While Bitcoin and Dogecoin often steal the spotlight in crypto news, Litecoin, despite being a quieter presence, remains a significant player in the industry.

Recent on-chain data indicates that Litecoin whales have collectively engaged in a buying spree, amounting to approximately $230 million. This significant investment surge suggests a potentially bullish outlook for the coin.

Litecoin has risen to prominence as the preferred cryptocurrency for transactions on the Bitpay crypto payments platform, surpassing Bitcoin in adoption among users.

A significant portion of the cryptocurrency market saw changes for the majority of April, and Litecoin [LTC] was no exception. But pricing performance is not the point here. Rather, the Hodler Net Position Change was the noteworthy rotation.

With over 14,000 tokens in circulation and a $2.4 trillion market capitalization, more might not always be better. Forbes has identified a set of 20 cryptocurrencies, nicknamed "zombie blockchains," that, in spite of their lack of user acceptance and real-world utility, continue to command high market prices.

With more than five million long-term holders, the network now accounts for an astounding 62.5% of all LTC addresses with a balance.

On April 2, Litecoin [LTC] outperformed Bitcoin [BTC], spearheading a surge as the latter's price kept falling. Later on in the day, though, LTC reversed nearly all of the gains from a few hours earlier.

As LTC generates rewards for its holders, Litecoin's demand is rising.