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Litecoin (LTC) Marks Big Milestone of 175 Million Transactions: Details

Thu, 08/24/2023 - 15:55
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Tomiwabold Olajide
Litecoin celebrates historic milestone
Litecoin (LTC) Marks Big Milestone of 175 Million Transactions: Details
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Litecoin has just broken a record in terms of network transactions. An exciting tweet states that the 175 millionth transaction has just been completed on the Litecoin network.

The Litecoin network highlighted this year's impressive performance in terms of transactions, noting that even though the year is only eight months old, 2023 has already eclipsed last year's record number of 39 million transactions.

According to the Litecoin Foundation, 2023 has already seen 46 million transactions, which is a new record.

This is significant since Litecoin has had nearly 11 years of uninterrupted uptime and has never experienced downtime. Litecoin, often referred to as the "Digital Silver" to Bitcoin's "Digital Gold," claims to be the only blockchain with over 11 years of uninterrupted uptime.

At block 2,520,000 on Aug. 2, the Litecoin network underwent its halving event. The mining reward was halved from 12.5 LTC to 6.25 LTC, and the clock has been reset for the next halving in around four years, likely in 2027.

Litecoin recently shared information to enlighten its network participants, reminding them of the fact that miners are given a certain amount of Litecoin when a block is produced. It went on further to note that there are currently 828,000 blocks until the next halving in 2027, while sharing some mining reward stats from the last 144 blocks.

Litecoin and Dogecoin Stand Out With Increased Activity

As reported, on-chain analytics firm IntoTheBlock pointed out that Litecoin (LTC) experienced a noticeable increase in address activity. Particularly, the number of daily active addresses for Litecoin was impressive at 231,270. This seems to be a testament to Litecoin network activity.

The price of Litecoin has, however, remained unaffected despite the network boom. Since attaining highs of $114 on July 3, Litecoin has consistently declined, even touching lows of $60 on Aug. 17.

At the time of writing, LTC was marginally up in the last 24 hours to $65.18.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.