Litecoin (LTC) is one of the digital currencies that is currently performing rather poorly in terms of price increase. The price of the cryptocurrency dropped to $77.26 at the time of writing, a decrease of 0.11% over the previous day.
Growing Litecoin metrics
Litecoin has gained tremendous positive momentum in its other important growth indicators, such as the total number of daily active users, despite the price decline. The overall number of Daily Active Users (DAUs) on the Litecoin network increased by 8.86% to 433,170 addresses, according to statistics from IntoTheBlock (ITB).
This statistic demonstrates that, despite the pessimistic outlook, Litecoin usage has not decreased. This is key in determining the Litecoin protocol’s future moves since the rise in LTC usage may prompt the short-term price increase that is sorely required.
In addition to an increase in users overall, Litecoin has recently surpassed two significant milestones. Over the weekend, the payment protocol announced that it had reached 200 million total addresses.
This is a big one, and it helps the Litecoin protocol regain its position as one of the most popular Layer 1 systems in use right now. Additionally, the development of Litecoin Ordinals has supported market sentiment generally. According to the protocol, the number of its Ordinal Inscriptions has topped five million.
Growth boost
Litecoin prides itself on having a 100% uptime record since its creation and is primarily used as a payment system. After Bitcoin (BTC), Ethereum (ETH), and XRP, Litecoin is one of the most popular protocols, according to the recent spike in key growth measures. The coin’s fundamental drivers of long-term development are these growth ticks and its emotion of halving.
