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With the beginning of the new year, Litecoin (LTC) I achieved a great achievement. It has surpassed 300 million transactions, marking a historic moment for the cryptocurrency and its community.
Launched in October 2011 by Charlie Lee, Litecoin was designed to complement Bitcoin by offering faster transaction times and lower fees.
the 300 million The transaction milestone highlights Litecoin's adoption and usefulness as a payment network. This comes on the heels of Litecoin building its niche, being used in real-world transactions.
The year 2024 saw significant growth in transactions for the Litecoin network. By November 19, 2024, approximately 84 million Litecoin transactions had been completed. Additionally, with the furious race to the end of 2024, another record has been broken: 92,764,978 transactions for the year, an increase of 38.55% from the previous all-time high of 66.95 million transactions processed in 2023.
2024 is a special year for Litecoin
2024 has been a great year for Litecoin, its users, and the community, witnessing new milestones.
On January 3, 2024, Litecoin had 1.37 million active addresses, surpassing Bitcoin and Ethereum combined. According to IntoTheBlock's research, Litecoin users remained active throughout 2024, with an average daily active address of 401,000, up 10% from the average of 366,000 in 2023.
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On December 28, 2024, LitecoinThe hash rate peaked at just under 2 PH/s (1.919 PH/s), a new all-time high. Hashrate is a good indicator of the security of the Litecoin network and the honesty of the miner's intent.
Last October, Canary Capital filed its first application for a Litecoin Spot ETF (S-1) with the Securities and Exchange Commission, aiming to push LTC into the mainstream investment market. Coinbase's Litecoin futures were launched earlier after the Commodity Futures Trading Commission (CTFC) approved Coinbase's introduction, and were an instant hit. Since then, trading volumes have increased by 10,950%, fueling Coinbase's aspirations to launch perpetual futures in Europe.
Fidelity adopted Litecoin support and custody in July 2024, joining Bitcoin and Ethereum as part of the trading platform's institutional offerings. At the time of writing, LTC is up 1.63% in the past 24 hours to $113.51 and is up 12% in the past seven days.
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