Litecoin (LTC) Achieves 200 Million Address Milestone
Litecoin (LTC) Achieves 200 Million Address Milestone
In a noteworthy development, Litecoin (LTC) has reached a significant milestone, surpassing 200 million total addresses.
This achievement highlights the substantial growth and popularity of the coin within the cryptocurrency landscape.
The official Litecoin Twitter handle recently shared this news, signaling the accomplishment to its community.
Just hours after the latest announcement, LTC Ordinals hit the five million mark, following 25 million transactions recorded last June 14. These recent achievements resulted in an upturn in its trading price.
According to TradingView, Litecoin printed an increase of 0.47% to $77.23 over the past 24 hrs, accompanied by a market capitalization of $5.64 billion. The movement has retained the 62.59% surge year-to-date.
With the mounting expectations for the next Litecoin (LTC) halving, market participants are keenly watching for the next movements of the asset.
The block reward is anticipated to be reduced by 50.00% to 6.25 LTC on the halving event. This typically ignites interest and fuels price movement as investors are eager to see how this will impact the currency’s value.
As of June 17, the recent global Litecoin hash rate, which represents the combined computing power of all miners on the network, was at 760.82 TH/s. A higher hash rate generally indicates a more secure network.
Meanwhile, LTC mining difficulty, the level of complexity involved in mining new blocks, is set at 25.15 M along with a block height of 2,492,933.
However, traders still need to remain cautious as LTC’s price action is still troubled by the bears.
A decline from the $75 support level increases the likelihood of a further drop to $65 and failure to successfully defend the level could result in a decline to $61 for the pair.
