BlocksInform
Known for being one of the world's oldest cryptocurrencies, litecoin (ltc) made headlines as it reported a record number of transactions.
According to the altcoin’s official Twitter account, it has serviced 39 million transactions as of December 29.
Add on to this the accompanying news that it has also hit second place in the unique addresses metric which grew to 52 million. These very bullish developments led to the token pumping 7% in the weekly timescale, according to Coingecko data.
The litecoin network has carried out more than 39 million operations in 2022. A new record!
?$LTC? pic.twitter.com/DXbnuur2tI
— Litecoin (@litecoin) December 31, 2022
2022 Leaving Marks – Will 2023 Be A Healing Year?
The present developments are definitely bullish. This didn't come for free. According to CoinGecko, the altcoin dropped in value by 50.4% on the yearly timescale.
Under coingecko, the alta currency fell in value by 50.4% on the annual time scale. A Reddit post regarding the altcoin’s 139,000,000th transaction quickly summarizes the sentiment surrounding the old altcoin; bullish and very appreciative of what the coin brings to the table.
A post reddit concerning the 1390000th transaction of the altcoin briefly sums up the feeling surrounding the old altcoin; bullish and very grateful for what the coin brings to the table.
Litecoin has added 52 million new addresses in 2022. #YearInReview pic.twitter.com/p5jAr9wZI0
— Litecoin (@litecoin) December 30, 2022
Litecoin, compared to smart contract providers on Ethereum, is commonly used as a payment method on Bitpay, the oldest cryptocurrency processor in the market.
In just one year, monthly Litecoin use, with the worlds largest crypto processor, increased 109% ?? pic.twitter.com/DBXe6OTdib
— Litecoin (@litecoin) January 2, 2023
Between August 2021 and November 2022, payments using LTC increased by 109%, from 3,478 to 24,207. In one year's time, monthly utilization of litecoin, It has the largest crypto processor in the world, 109 per cent increase? pic.twitter.com/dbxe6otdib— litecoin (@litecoin) on January 2, Aug 2021 – Nov 2022, 109% increased payments through CTA, Between 3,478 and 24,207.
The trading share of the alternative currency on the payment platform is 27%, which nearly outweighs the other alternative coins available on the platform.
Nearly 100% Runtime For Litecoin Since Inception
LTC has overwhelming advantage in the runtime department compared to other altcoins. Almost 100% execution time for litecoin since inceptionltc has a crushing advantage in the execution department over other spare parts.
LTC total market cap at $5.3 billion on the daily chart | Chart: TradingView.com
According to Jameson Lopp, CTO and Co-Founder of Casa HODL, LTC’s runtime in the past 10 years has been near 100%. Ltc market capitalization total to 5.3 billion dollars on daily chart | graphic: tradingview.comaccording to jameson lopp, He is the co-founder of casa hodl, The time it has taken to run ltc over the last 10 years has been close to 100%.
That's quite an achievement for an 11-year-old spare part.
Related reading: sushiswap leader suggests a new token template be prepared - will dex survive in 2023?
Short-term, analysts think that LTC will break towards $100. In the short run, analysts anticipate that the CTA will approach $100. If the bullish sentiment and the current steady momentum continues, we’ll see LTC in that price level in no time.
-Featured image Fool.com
