One of the leading cryptocurrencies Litecoin (LTC) broke a record 170 million transactions as reported on its social media account. carried out. This surge in activity, with more than 10 million transactions added in just seven weeks, marks an accelerating growth trend for LTC.
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
NEWS CONTINUES BELOW⚡ $LTC ⚡ pic.twitter.com/BZaFJNMV8o
— Litecoin (@litecoin) July 15, 2023
NEWS CONTINUES BELOW
‘Digital Silver’ Never Sleeps
Dubbed ‘Digital Silver’ versus Bitcoin’s ‘Digital Gold’, LTC has kept an uninterrupted operational record for over 11 years, an unparalleled achievement in the blockchain universe. This continuous uptime has developed a robust and reliable network that steadily attracts users and contributes to its transactional growth.
2023 cryptocurrency At the forefront of its calendar, the LTC halving, a highly anticipated event among proof-of-work (PoW) cryptocurrency enthusiasts, is approaching. This will be LTC’s third halving after 2015 and 2019. With less than three weeks left, expectations are rising for this event, which is seen as a net positive for the cryptocurrency.
On-chain analytics firm IntoTheBlock reported a notable increase in LTC search trends, reaching a new yearly high. The upcoming halving event is probably a major factor behind this increased interest.
OKLink’s analytics platform provides a countdown for the halving event, indicating it will happen in a little over 17 days. This event will halve Litecoin’s mining rewards from 6.25 LTC to 3,125 LTC.
At the time of this report, it had a market capitalization of $6.94 billion. altcoinranks 12th among all cryptocurrencies. Its price has declined marginally over the past 24 hours and is currently at $94.70.
Another important development in the world of cryptocurrencies is the positive determination by a US judge in Ripple’s case that Ripple’s XRP token sales do not constitute an “investment contract”. This decision will likely benefit LTC and other cryptocurrencies as well, creating a positive mood across the cryptocurrency industry.
The complex and volatile world of cryptocurrencies continues to evolve and expand. As Litecoin’s halving approaches and regulatory developments create ripple effects across the industry, Litecoin’s place and performance in this environment will undoubtedly be something to watch.
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