Active LTC Addresses See 14.45% Increase in One Day
On April 27th, according to Tokenview data, the number of active LTC addresses was 234800 yesterday, an increase of 14.45% compared to the previous day, and an increase of 10.62% c
On April 27th, according to Tokenview data, the number of active LTC addresses was 234800 yesterday, an increase of 14.45% compared to the previous day, and an increase of 10.62% compared to the average daily active LTC addresses in the past 7 days; Yesterday, LTC added 107900 new addresses, an increase of 10.74% compared to the previous day, and a 4.15% increase compared to the daily average number of new addresses added by LTC in the past 7 days.
Data: Yesterday, LTC had 234800 active addresses and 107900 new addresses
Introduction
Cryptocurrencies have been gaining popularity for years and it’s no secret that Litecoin (LTC) is among the most popular among investors. While Bitcoin steals the show in the crypto world, LTC has been proving to be a steady investment for years. As of 2019, LTC was traded more than 30 times per second and the number keeps growing, with more people getting into the crypto world. This growth is evident as of April 27th, 2021. Tokenview data shows that LTC’s active address number saw a 14.45% increase in one day, bringing LTC under the spotlight.
The Statistics
According to Tokenview, as of April 27th, 2021, the number of active LTC addresses was 234,800. This was a 14.45% increase when compared to the previous day. The growth rate is even higher when compared to the average daily active LTC addresses in the past 7 days, with a 10.62% increase. In addition, LTC added 107,900 new addresses on April 27th, an increase of 10.74% compared to the previous day and a 4.15% increase compared to the daily average number of new addresses added by LTC in the past 7 days. These numbers are impressive and demonstrate how popular and viable LTC is as an investment.
Why the Increase?
To understand the reasons behind the sudden increase in LTC’s active addresses, we need to look at the current cryptocurrency market. The entire market has seen a bullish trend lately, with a significant surge in other coins such as Bitcoin and Ethereum. This positive trend in the cryptocurrency market has spilled over into other coins, including LTC. More than that, the growth of LTC’s active addresses is not just due to the bullish trend but also due to the LTC community’s growth and development. LTC has a highly active development team that is always looking for new improvements to add to the coin. The Litecoin Foundation, a non-profit organization promoting LTC as a means of payment, has been pushing for the adoption of the coin in more areas. They have recently partnered with a couple of payment platforms to increase the use of LTC, and this is likely having a positive effect on the coin’s value.
Future Implications
This increase in LTC’s active addresses could signal a positive trend for LTC’s future. With BTC remaining volatile, investors are looking to alternate coins like LTC which offer a more stable growth pattern. The increase in active addresses suggests that more people are considering LTC and stepping into the crypto world. As the market continues to grow and evolve, LTC is likely to see more partnerships and a growing community that will only drive up the coin’s value.
Conclusion
LTC has become a go-to for investors looking for stability in a volatile market. The increase in active addresses is only further proof of LTC’s viability. The bullish trend in the entire cryptocurrency market, as well as the Litecoin Foundation’s continued efforts to promote LTC’s adoption, likely contributed to the marked increase in LTC’s active addresses and new addresses. As the coin’s community continues to grow and the development team maintains its efforts, LTC’s value is likely to see a steady rise.
FAQs
1. Why was there a sudden increase in the number of active LTC addresses?
Ans: There are two primary reasons for the increase. One is the bullish trend in the entire cryptocurrency market, and the other is the Litecoin Foundation’s efforts to increase adoption.
2. What does the increase in active addresses indicate?
Ans: It indicates that more people are considering LTC as a viable investment and are stepping into the crypto world.
3. Is LTC a good investment?
Ans: LTC has proven to be a steady and reliable investment in the past, and the increase in active addresses signals a bright future for the coin.
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