Litecoin’s trading volume increased by 12.81% in the past 24 hours, hitting a new milestone in the number of transactions on Thursday. The overall crypto market has been showing signs of recovery recently, with leading cryptocurrencies Bitcoin and Ethereum experiencing slight price increases. However, other altcoins are still struggling to maintain their recent gains. Litecoin (LTC) in particular has seen a 1.11% daily decline in market price.
Despite the price drop, Litecoin has witnessed an increase in on-chain activity, with a significant 75% surge in wallet addresses on Thursday. It has surpassed Ethereum in terms of wallet holders by over 100K addresses, reaching the highest level since January 2024. The number of transactions has also reached a new milestone of 426,000 on Thursday, drawing market attention for its increase despite recent price declines.
In addition, LTC transactions have seen a multifold increase, with $16.4 billion of transactions over $100K recorded according to IntoTheBlock data. The surge in Litecoin movements, particularly in transactions below $10, indicates a bullish trend in on-chain activity.
As of the current writing, Litecoin is trading at $84.50 with a trading volume of around $311 million and a market cap of $6.3 billion. The monthly price performance of Litecoin has increased by 4.15%, with a year-to-date increase of 15.57%. The altcoin’s short-term MA stands below the long-term MA, signaling a recent bearish turn in market price. Additionally, Litecoin has a neutral market sentiment with an RSI of 48.94 according to TradingView data.
In other crypto news today, Toncoin has hit a new peak amid the Telegram launch of TON-Linked Stars.
