Santiment, the on-chain data provider, claims that Litecoin has overtaken Ethereum in terms of active wallet addresses. In addition, the number of Litecoin payments reached its all-time high with 600,000 daily users, according to the data provider. The number enabled UTXO crypto to beat the leading DeFi and NFT platform.
Most LTC forecasts have failed with the latest announcement and traders are looking for an updated one Litecoin price prediction. The fact that Litecoin does not benefit from NFT or DeFi transactions makes the performance even more impressive.
Santiment has released another key metric related to the number of Litecoin payments. The metrics showed that LTC hit its all-time high, breaking the 2017 record. The provider added that the UTXO metrics take into account addresses that receive LTC. Therefore it is very close to the number of active addresses. Since Litecoin is part of UTXO, perhaps its on-chain interaction should be compared to BTC.
But even at its all-time high, Litecoin is nowhere near the active addresses of Bitcoin. The network had over a million active daily addresses in August 2021, which must have increased by now. However, the fact is that LTC has managed to outperform the second largest cryptocurrency in the industry.
But even with the recent spike, the price of Litecoin is still trading around the $ 173 mark. The crypto has acquired a market cap of around $ 11.9 billion with token trading at $ 173.78.
The coin hit its annual high in September when it hit $ 223. However, the main reason behind the surge was rumors that Walmart would accept Litecoin payments. As a result, the price only stayed at the mark for less than 24 hours before falling back to its original state.
The rumors increased after a Litecoin executive tweeted about it, only to withdraw it afterwards. Charlie Lee, founder of Litecoin, assured that the network would find out how the fake news emerged. Unfortunately, there hasn’t been any news on the subject so far, and the topic is unlikely to come up again.