{"id":538786,"date":"2023-06-20T20:30:17","date_gmt":"2023-06-20T20:30:17","guid":{"rendered":"https:\/\/wncen.com\/?p=538786"},"modified":"2023-06-20T15:28:49","modified_gmt":"2023-06-20T15:28:49","slug":"litecoin-sees-55-increase-in-new-daily-addresses-as-bullish-sentiment-grows","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/litecoin\/litecoin-sees-55-increase-in-new-daily-addresses-as-bullish-sentiment-grows\/","title":{"rendered":"Litecoin Sees 55% Increase In New Daily Addresses As Bullish Sentiment Grows"},"content":{"rendered":"

Bullish sentiment around Litecoin has been on the rise as the network is drawing closer to its much-anticipated halving event. This positive sentiment is reflected in the number of new daily addresses on the blockchain, which has seen a significant rise over the last week.<\/p>\n

Litecoin New Addresses Jump 55% In 7 Days<\/h2>\n

In a Twitter post, on-chain data aggregator IntoTheBlock revealed that the number of new addresses on the Litecoin network has been on the rise. Notably, the majority of the growth has been recorded in the last week alone when the total new addresses jumped a whopping 55%.<\/p>\n

\n

Active addresses & new addresses are back on the rise for #Litecoin<\/a>. Daily active addresses saw a 28% 7-day increase & new addresses saw a 54.6% 7-day increase!
\nSource: https:\/\/t.co\/POjEVdh92n<\/a> pic.twitter.com\/PCbcGV7mFH<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) June 19, 2023<\/a><\/p><\/blockquote>\n

This meteoric rise in new addresses saw Litecoin\u2019s total addresses cross the 200 million level. This new milestone meant that the total number of LTC addresses has now surpassed that of Ethereum\u2019s 180 million. However, it is still a long way from its biggest rival Bitcoin, which currently boasts over 1 billion total addresses.<\/p>\n

Related Reading: Best Crypto Narrative For This Summer? Everything About LSDfi<\/a><\/p>\n

Nonetheless, the rapid rise in new Litecoin addresses shows that the bullish sentiment is spreading as new investors flock to the blockchain. This is all happening ahead of the Litecoin halving happening less than two months from now.<\/p>\n

\"Litecoin<\/p>\n

LTC price trending at 76.12 ahead of halving | Source: LTCUSD on TradingView.com<\/a><\/pre>\n
LTC Halving Could See Price Soar<\/h2>\n
The Litecoin halving is an event that sees the block reward for miners on the network cut down in half. It works just like Bitcoin in this way as it happens every four years, and creates an environment of scarcity for the cryptocurrency. This is why the halving can be a bullish event for the digital asset.<\/p>\n
LTC\u2019s next halving is taking place approximately 44 days from now at a block height of 2,520,000. This halving reward will cut block rewards down from 12.5 LTC to 6.25 LTC, and a block is produced on Litecoin approximately every two-and-a-half minutes.<\/p>\n
\"Litecoin<\/div>\n
LTC halving happening at block height 2,520,000 | Source: NiceHash<\/a><\/pre>\n
As the block rewards are set to be cut in half, investors are flocking to the digital asset in hopes that the halving will trigger a rally. This is not out of the ordinary given that has been the case in the past. Presently, LTC is trading at $76 apiece but as bullish sentiment rises leading up to the event, the cryptocurrency could easily cross the $100 mark.<\/p>\n
Related Reading: Bitcoin Whales Continue To Accumulate As BTC Makes Recovery Push<\/a><\/p>\n
For now, the bears remain in control as LTC continues to trade well below its 50-day and 100-day moving averages. As momentum picks up leading up to the halving, this is expected to change, putting the buyers in charge of determining its fair price.<\/p>\n
LTC price is down 0.70% in the last 24 hours and 1.45% on the 7-day chart.<\/p>\n
Featured image from Currency.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bullish sentiment around Litecoin has been on the rise as the network is drawing closer to its much-anticipated halving event. This positive sentiment is reflected in the number of new daily addresses on the blockchain, which has seen a significant rise over the last week. Litecoin New Addresses Jump 55% In 7 Days In a Twitter post, on-chain data aggregator IntoTheBlock revealed that the number of new addresses on the Litecoin network has been on the rise. Notably, the majority of the growth has been recorded in the last week alone when the total new addresses jumped a whopping 55%. Active addresses & new addresses are back on the rise for #Litecoin. Daily active addresses saw a 28% 7-day increase & new addresses saw a 54.6% 7-day increase! Source: https:\/\/t.co\/POjEVdh92n pic.twitter.com\/PCbcGV7mFH \u2014 IntoTheBlock (@intotheblock) June 19, 2023 This meteoric rise in new addresses saw Litecoin\u2019s total addresses cross the 200 million level. This new milestone meant that the total number of LTC addresses has now surpassed that of Ethereum\u2019s 180 million. However, it is still a long way from its biggest rival Bitcoin, which currently boasts over 1 billion total addresses. Related Reading: Best Crypto Narrative For This Summer? Everything About LSDfi Nonetheless, the rapid rise in new Litecoin addresses shows that the bullish sentiment is spreading as new investors flock to the blockchain. This is all happening ahead of the Litecoin halving happening less than two months from now. LTC price trending at 76.12 ahead of halving | Source: LTCUSD on TradingView.com LTC Halving Could See Price Soar The Litecoin halving is an event that sees the block reward for miners on the network cut down in half. It works just like Bitcoin in this way as it happens every four years, and creates an environment of scarcity for the cryptocurrency. This is why the halving can be a bullish event for the digital asset. LTC\u2019s next halving is taking place approximately 44 days from now at a block height of 2,520,000. This halving reward will cut block rewards down from 12.5 LTC to 6.25 LTC, and a block is produced on Litecoin approximately every two-and-a-half minutes. LTC halving happening at block height 2,520,000 | Source: NiceHash As the block rewards are set to be cut in half, investors are flocking to the digital asset in hopes that the halving will trigger a rally. This is not out of the ordinary given that has been the case in the past. Presently, LTC is trading at $76 apiece but as bullish sentiment rises leading up to the event, the cryptocurrency could easily cross the $100 mark. Related Reading: Bitcoin Whales Continue To Accumulate As BTC Makes Recovery Push For now, the bears remain in control as LTC continues to trade well below its 50-day and 100-day moving averages. As momentum picks up leading up to the halving, this is expected to change, putting the buyers in charge of determining its fair price. LTC price is down 0.70% in the last 24 hours and 1.45% on the 7-day chart. Featured image from Currency.com, chart from TradingView.com<\/p>\n","protected":false},"author":594,"featured_media":538793,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16897],"tags":[10,41611,2828,2829,2831,79510],"class_list":["post-538786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-litecoin","tag-litecoin-halving","tag-ltc","tag-ltc-price","tag-ltcusd","tag-ltcusdt"],"acf":[],"yoast_head":"\nLitecoin Sees 55% Increase In New Daily Addresses As Bullish Sentiment Grows<\/title>\n<meta name=\"description\" content=\"Bullish sentiment around Litecoin has been on the rise as the network is drawing closer to its much-anticipated halving event.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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