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Litecoin has smashed a historic milestone in its network transactions. The Litecoin network just processed its 170 millionth transaction, an exciting Twitter announcement reads.
The #Litecoin network just processed its 170 millionth transaction! Which means Litecoin is accelerating, adding another 10 million in the last 7 weeks. Well over a million transactions a week. #SaturdayVibes
— Litecoin (@litecoin) July 15, 2023
⚡ $LTC ⚡ pic.twitter.com/BZaFJNMV8o
This reflects accelerating growth for Litecoin, which has added over 10 million transactions over the past seven weeks. This suggests that well over a million transactions occur each week.
Tomiwabold OlajideThis is significant, as Litecoin has never been down in its over 11-year history of continuous uptime. Referred to as the silver to Bitcoin's "Digital Gold," Litecoin touts itself as the only blockchain with over 11 years of continuous uptime.
Vladislav SopovOne of the most eagerly anticipated events of 2023 for all proponents of proof-of-work (PoW) cryptocurrencies is the Litecoin (LTC) halving. The third halving in the history of Litecoin (LTC) is approaching; the first two occurred in 2015 and 2019.
Already, expectations are ramping up ahead of the event, which is about 18 days away, per an announcement from the official Litecoin Twitter account.
On July 12, on-chain analytics firm IntoTheBlock reported that search trends for Litecoin have hit a new yearly peak. Citing Media topics, the upcoming halving event is believed to be a key driver for the heightened interest.
OKLink's analytics platform gives a breakdown of the countdown to the halving event. The current countdown at the time of writing is 17 days and 3 hours, with an anticipated date of Aug. 2. There are presently 9,875 blocks left for this event.
The halving event, which will reduce Litecoin mining rewards from 6.25 LTC to 3.125 LTC, is seen as a net positive.
At the time of writing, LTC was marginally down in the last 24 hours to $94.70. Litecoin, which has a market value of $6.94 billion, is now ranked 12th among all cryptocurrencies.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Valeria Blokhina
Alex Dovbnya
Vladislav Sopov
Dan Burgin