With regard to network transactions, Litecoin has just smashed a record. The 175 millionth transaction on the Litecoin network has just been finished, according to an enthusiastic tweet.
Despite only being eight months old, 2023 has already surpassed last year’s record of 39 million transactions, according to the Litecoin network, which emphasised this year’s strong transaction performance.
The Litecoin Foundation reports that 46 million transactions have already been made in 2023, setting a new record.
This is noteworthy since Litecoin has been up and running continuously for almost 11 years with no interruption. The “Digital Silver” to Bitcoin’s “Digital Gold,” Litecoin asserts to be the only blockchain with more than 11 years of continuous uptime.
On August 2, the Litecoin network had its halving event at block 2,520,000. The mining reward was reduced in half, from 12.5 LTC to 6.25 LTC, and the clock was restarted for the subsequent halving, which will probably occur in 2027.
Recently, Litecoin provided information to alert users of its network, reminding them that when a block is created, miners receive a particular quantity of Litecoin. It continued by revealing some mining reward statistics from the previous 144 blocks and noting that there are presently 828,000 blocks remaining before the subsequent halving in 2027.
On-chain analytics company IntoTheBlock noted that Litecoin (LTC) had a discernible rise in address activity, as was previously reported. In particular, Litecoin has an amazing 231,270 daily active addresses. This appears to be proof that the Litecoin network is active.
But despite the network expansion, the price of Litecoin has not changed. Litecoin has continually dropped from reaching highs of $114 on July 3 and even reached lows of $60 on August 17.
At the time of writing, LTC had risen slightly to $65.18 over the previous day.
