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Litecoin (LTC) recorded impressive performance over the past month. The decentralized project recorded surges in active addresses, volume, and 24-hour transactions.
Despite bearishness that saw it hitting new price lows after the halving event, 2023 saw LTC attaining a new record, with the daily transactions exceeding 1 million for the first time.
Litecoin hits new record in daily transactions
LTC attained a key milestone in 2023 as the daily transaction metric surpassed 1 million for the first time. It gained 8.24% over the last twelve months, whereas holders saw their portfolios increase by around 7% in December.
Meanwhile, Santiment data shows Litecoin active addresses surged between 11 November and 31 December. Also, the token’s price climbed from the low of $58.83 to the 8 December local peak of $76.28 despite significant profit-booking.
Large-scale investors also interact with LTC. Santiment shows massive transfers matched upticks in the Network Realized Loss/Profit indicator. That shows profit-taking didn’t influence LTC uptrends.
LTC price outlook
Litecoin changed hands at $73.96 at this publication, up 1.05% in the previous 24 hours. Meanwhile, it has a substantial correlation with the second-largest crypto, Ethereum. Thus, Litecoin will likely mimic Ether’s performance.
ETH gained nearly 1% on its daily chart to trade at $2,308.26. Meanwhile, it has maintained beyond $2.2L since 21 December, and the sustained uptrend has contributed to LTC price surges.
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