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- Litecoin completed over 12 million transactions last month, surpassing many other blockchain lifetime totals.
- Crypto analyst MASTERBTCLTC predicts Litecoin will peak in October 2025 based on historical cycles.
Litecoin recently achieved a huge milestone by processing over 12 million transactions in the last month. This is an impressive achievement, surpassing the lifetime transactions of several other blockchains.
BREAKING: Litecoin has just completed over 12 million transactions in the last month. That's more than some blockchains have done in their lifetimes.
What's in your wallet? #Litecoin ⚡️ $LTC pic.twitter.com/dU1xjF44vr
— Litecoin (@litecoin) July 6, 2024
Despite this milestone, the market reaction has been very subdued. The price of Litecoin increased by only 0.91% over the last 24 hours to $65.17, which is insignificant when compared to the growth rates of some big cryptocurrencies.
In terms of recent advancements, there have been significant changes in the Litecoin ecosystem. CNF reported a huge reduction in Litecoin miners reserves, which reached their lowest levels in years.
Despite this, the network’s hashrate has reached an all-time high of 1.07k TH/s, suggesting increased mining activity and network security. Furthermore, we highlighted that Litecoin had a positive cash flow of $1.4 million earlier this month, indicating strong financial inflows.
Another great update for Litecoin is the upcoming Litecoin Summit 2024, which will be held in Nashville. This event will bring together leading innovators, thought leaders, and decision-makers to debate industry trends, technological advancements, and public policy challenges. We anticipate that the meeting will provide major positive news, perhaps boosting Litecoin’s market sentiment.
Also, Litecoin is planning for a big core upgrade, which will involve the incorporation of Partially Signed Bitcoin Transactions (PSBT). This patch intends to improve Litecoin’s security and privacy features, bolstering its reputation as a trustworthy cryptocurrency.
Furthermore, Litecoin’s merger with Dogecoin continues to improve security and compensation for miners on both networks.
The MimbleWimble Extension Block (MWEB), launched in 2022, is still a substantial improvement, providing optional anonymity for wallet balances and transactions, making Litecoin more appealing to privacy-conscious users.
This positive trend is consistent with several fundamental variables highlighted in our prior reports, which are likely to set the basis for Litecoin’s future bullish trajectory.