The Litecoin network continues to gain momentum, as it crosses a major milestone this week.
On December 22nd, the Litecoin blockchain reportedly processed its 200 millionth transaction, showcasing impressive growth for the cryptocurrency.
In just the past 24 hours alone, Litecoin facilitated over 1.4 million on-chain transactions, which is more than Bitcoin and Ethereum combined.
According IntoTheBlock, Litecoin’s network activity has been surging this month, with daily active addresses consistently exceeding those of Ethereum since early December. This resurgence comes at an opportune time, as anticipation builds for a potential Bitcoin ETF approval in 2023.
Many experts, including prominent Litecoin advocate Shan Belew, believe Litecoin is poised for increased promotion on the heels of a Bitcoin ETF greenlight next year. With Litecoin closely associated with Bitcoin, this mainstream endorsement could further boost the altcoin’s value and network usage.
At present, Litecoin is trading around $72, up over 11% from this time last year according to CoinMarketCap. As the Litecoin network processes its 200 millionth transaction, the accelerating growth paints an optimistic picture for the cryptocurrency heading into 2023.
Also Read: How To Buy Litecoin: A Step By Step Guide
