A significant milestone has been broken for the first time in Litecoin’s almost 12-year history. The Litecoin Foundation reports that the 180 millionth transaction has now been completed on the Litecoin network.
A record 39 million transactions were made in 2022, according to the Litecoin Foundation X account. With almost two months left in the year, Litecoin had 51 million transactions, surpassing this figure in 2023.
https://x.com/LTCFoundation/status/1711388548337668462?s=20
This is noteworthy since Litecoin will soon mark its 12-year anniversary. With over 180 million transactions executed since its launch roughly twelve years ago, Litecoin prides itself on having a reliable network that never goes down.
In the meanwhile, Bitpay, a cryptocurrency payment processor, is seeing an increase in Litecoin transactions. According to statistics from September, about a third of all customers paid for their purchases at Bitpay merchants using Litecoin.
The third block reward halving event for Litecoin took place in August, reducing block payouts to 6.25 LTC. It is expected that the next block reward will be halved in around 1,400 days.
Like Bitcoin, there is a maximum supply restriction for Litecoin. 84 million Litecoins, or four times the limit on Bitcoin’s supply, will never be created. This rarity is widely seen as one of the factors enhancing Litecoin’s value proposition.
The fifteenth-largest cryptocurrency by market capitalization is Litecoin, which has a $4.64 billion market value. As of the publication of this article, LTC has decreased by 0.65% to $62.90 in the previous day.
With its daily Relative Strength Index (RSI) edging closer to the neutral level of 50 at the time of writing, Litecoin is still in the midst of a week-long price consolidation.
Although the price of Litecoin has generally stabilised following the August halving event, its network hash rate recently surpassed previous records.
