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Litecoin (LTC) Celebrating a historic milestone: a 100% uptime record since its inception. The Litecoin Foundation's official X handle participated in Screenshot From the “Litecoin Uptime Tracker”, indicating that the Litecoin network is 100% up and running since its inception on October 23, 2011.
Since its launch in 2011 by Charlie Lee, Litecoin has maintained continuous operation without any downtime. This means that for over 13 years, the Litecoin network has been running smoothly, processing transactions and securing the blockchain without any interruption.
This is a rare feat in the cryptocurrency space, where technical issues and network outages often occur.
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Litecoin is designed to be used with Proof of Work (PoW) consensus, Scrypt's algorithm, which is said to be more energy efficient and accessible than the SHA-256 algorithm. This setup is useful because it provides a lower barrier to entry, allowing more people to participate.
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On December 26, Litecoin network The milestone was achieved when the hash rate exceeded 2 PH/s at a block height of 2,816,339 and a difficulty of 59,401,111.
According to IntoTheBlock, in 2024, Litecoin's average daily active addresses reached 401,000, representing an increase from 366,000 in 2023. The highest annual level of Litecoin activity was set in early January, with 1.37 million active addresses in a single day.
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According to IntoTheBlock data, Litecoin had 8.25 million addresses with a balance as of December 23, most of them long-term holders of the coin. 54% of these owners are currently profitable.
A total of 78% of Litecoin addresses have held LTC for more than a year, according to IntoTheBlock, which notes that this category of holders typically accumulate during bear markets and sell near rising prices. Litecoin sees approximately 200,000 daily transactions, with most of this activity attributed to payments.
At the time of writing, Litecoin is down 5.13% over the past 24 hours to $99.38 and is the 25th largest cryptocurrency with a market capitalization of $7.48 billion.
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