24/7 Cryptocurrency News

Litecoin Records Growth In Daily Active Addresses In 2024: Report

Litecoin sees a 10% rise in daily active addresses in 2024, trading at $102 with a $7.7B market cap. Analysts predict LTC price to $140-$150.
Published by
Litecoin Records Growth In Daily Active Addresses In 2024: Report

Highlights

  • Litecoin's daily active addresses in 2024 averaged 401,000, up from 366,000 in 2023.
  • Litecoin recorded 1.37 million active addresses in January 2024, surpassing Bitcoin and Ethereum's daily peaks that month.
  • Analysts predict Litecoin could surge to $140-$150, supported by bullish indicators and reduced miner selling pressure.

Litecoin has seen a rise in daily active addresses in 2024, with an average of 401,000 addresses interacting with the network daily. This represents an increase from the 366,000 daily active addresses recorded in 2023. The growing activity showcases Litecoin’s resilience and continued relevance in the cryptocurrency space.

Advertisement

Litecoin Daily Activity Grows 10% in 2024 as Active Addresses Reach 401,000

According to recent IntoTheBlock data, Litecoin recorded a 10% year-over-year increase in daily active addresses in 2024. This reflects sustained user engagement and adoption of the network for transactions and other blockchain activities.

The report also highlighted that the coin achieved a new peak in activity earlier this year. On a single day in January 2024, 1.37 million active addresses were recorded, surpassing daily activity levels observed in Bitcoin and Ethereum for the same period.

The surge in network activity in early January marked an important milestone. The record 1.37 million active addresses on that day highlighted the token increasing adoption. This surge reflected its use for peer-to-peer transactions and various other utilities across the network.

This spike coincided with increased market volatility, suggesting that traders and investors may have turned to Litecoin as a reliable medium of transfer. More so, the network’s lower transaction fees and faster settlement times compared to competitors contributed to this surge.

Advertisement

Miners’ Stabilized Selling and Its Influence on LTC Price

The rise in Litecoin network activity was complemented by miners’ decision to stabilize their reserve holdings in late December. This followed a period of significant sell-offs during a market downturn, which saw miners offload 210,000 LTC in just five days.

As miners halted their sales, price rebounded from a monthly low of $87 to retake the $100 resistance level. Reduced selling pressure, coupled with a steady increase in active addresses, created a favorable environment for a potential bullish trend.

Additionally, Grayscale Investments has been actively accumulating Litecoin during the recent market downturn. Most recently, the company purchased 2,230 LTC on Thursday, bringing its total 30-day accumulation to over 41,100 coins. This positions Grayscale as one of the largest institutional holders of the token, with assets valued at over $220 million.

At press time, Litecoin is trading at $102.27, reflecting a 41.29% gain over the past year. Its market cap stands at $7.7 billion, with a 24-hour trading volume of $746.82 million. 

According to recent LTC price predictions, the token is showing strong bullish momentum, signaling a potential breakout soon. Analysts point to key technical indicators that suggest further upward movement. If the bullish trend persists, Litecoin price could reach a target range of $140 to $150, with the possibility of surging to $200 in an extended rally.

Advertisement

Share
Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Just In: DeFi Dev Corp Launches Japan’s First Solana Treasury Company, SOL Price Reacts

DeFi Dev Corp has announced the creation of Japan’s first Solana Treasury firm in partnership…

October 9, 2025
  • 24/7 Cryptocurrency News

Pi Network Mainnet to Get Major Upgrade in Q4, Says Expert

Over the past month, the Pi Network testnet has been actively testing the Protocol v23…

October 9, 2025
  • 24/7 Cryptocurrency News

Bitwise Solana ETF to Launch This Week as It Amends Staking, Fees? Bloomberg Weighs In

Bitwise Solana ETF (BSOL) is likely gearing up for launch this week as the issuer…

October 9, 2025
  • 24/7 Cryptocurrency News

Canary Capital Trump Coin ETF Secures DTCC Listing as Expert Predicts Price Breakout

Canary Capital’s Trump Coin ETF has been listed on the Depository Trust & Clearing Corporation…

October 9, 2025
  • 24/7 Cryptocurrency News

Polymarket Founder Shayne Coplan Teases Potential POLY Token After $2B ICE Deal

Polymarket founder Shayne Coplan has sparked speculation about a potential native token launch following a…

October 9, 2025
  • Bitcoin News

FOMC Minutes Signal Fed Open to More Rate Cuts This Year, Bitcoin Bounces

The FOMC minutes have signaled a dovish shift from the Fed officials, who look likely…

October 9, 2025