Impressive Transaction Record for Litecoin
Litecoin, popularly known as the “Digital Silver” to Bitcoin’s “Digital Gold,” has just reached a remarkable milestone by processing its 175 millionth transaction. This record-breaking event occurred within the Litecoin network, boasting nearly 11 years of uninterrupted uptime.
In a tweet from the Litecoin Foundation, it was reported that this accolade was accomplished in spite of the year being only eight months old. Notably, last year’s record of 39 million transactions has already been surpassed, with 2023 witnessing over 46 million transactions. Hence, setting a new standard in the network’s performance.
Uninterrupted Uptime and Halving Event
Establishing itself as a stalwart of consistency, Litecoin is the only blockchain to have over 11 years of uninterrupted uptime. This consistency was further displayed on August 2, when at block 2,520,000, the Litecoin network underwent its halving event. This event saw the mining reward drop from 12.5 LTC to 6.25 LTC, essentially ‘resetting the clock’ for the next halving expected to take place in 2027.
Litecoin’s Transparent Information Sharing
The Litecoin network remains keen on enlightening its participants about its operational details. They recently reminded miners that they are awarded a certain amount of Litecoin each time a block is produced. This move also provided insights into the forthcoming 2027 halving by revealing that approximately 828,000 blocks remain until the event. Additionally, the network shared mining reward statistics from the last 144 blocks, thereby reinstating its commitment towards transparency.
Increased Address Activity and Steady Price
On-chain analytics firm, IntoTheBlock, highlighted a significant increase in Litecoin’s address activity. To be specific, the daily active addresses for Litecoin stood at an impressive 231,270, indicating an upsurge in network operations. However, despite this increase, the price of Litecoin remained fairly stable. From a peak of $114 on July 3, Litecoin has seen a consistent decline, even reaching lows of $60 on August 17. As of the time of writing this article, the price was marginally up in the past 24 hours to $65.18.
We invite our readers to comment below on Litecoin’s achievement and future prospects.
Please note: The opinions expressed herein are solely from our writers, and does not represent the views of U.Today. We are not responsible for any financial losses incurred while trading cryptocurrencies. We recommend conducting your own research or seeking advice from financial experts before making investment decisions.
