- Litecoin has delivered 13 years of continuous work, and since its launch in 2011, it reached 100% availability.
- The Litecoin network sets a historical high in hashing rate of 2 PH/s and a continuous increase in transactions, which signifies major network development in 2024.
- Thus, pointing out the strong LTC investors’ sentiment with 78% investing in the long-term, Litecoin demonstrates sound usage and demand in the sphere of competing cryptocurrencies.
Litecoin is currently celebrating a major achievement with the network running at an impressive 100% uptime since inception on October 23, 2011. Recently, the Litecoin Foundation posted on their official X handle indicating the “Litecoin uptime tracker.” It makes Litecoin one of the most durable assets in the crypto market, and this achievement speaks volumes about the currency’s performance.
Continuous Service Delivery Since the year 2011
Litecoin was launched by Charlie Lee and has been running for over 13 years without any single halt other than its official plan. This impeccable result demonstrates the reliability and stability of its blockchain solutions for actual transactions and for sustaining network functionality. That is such a big achievement in the cryptocurrency world where technical hindrances are always an obstacle to performance.
On 26th December 2024 Litecoin achieved another new record of hashrate touching 2 PH/s at block number 2816339 and the altered difficulty ratio of 59401111. This increase is associated with the vitality of the accompanying network since the DAG is considered to be more secure and powerful when more liquid.
Furthermore, daily active addresses have also risen; reaching 401k on average in 2024 from 366k on average in 2023. The highest number of active addresses was observed in January 2024, when the indicator exceeded 1.37 million addresses within one day.
Long-Term Adoption and Usage
Data from IntoTheBlock reveals that Litecoin currently supports 8.25 million addresses with a balance. Of these, 54% of holders are in profit, while a notable 78% have held their LTC for over a year. This long-term holding pattern shows that the investors are confident people who tend to buy when the prices are low and then tip during highs.
Furthermore, and more importantly, Litecoin has an average daily solving rate of over 190,000, mainly to accommodate payment. This steady usage helps validate its place as a functional and consistent form of currency used for exchanges in the crypto space daily.
However still, it is possible to underline two mostly pressing issues that relate to the concepts of sustainability and accessibility.
Litecoin is an effective peer-to-peer digital asset likely as a result of using the Scrypt PoW consensus algorithm. This design is considered more power-efficient and convenient than the SHA-256 algorithm that is used by Bitcoin. Therefore, Litecoin has made entry to the network cheap and easy hence increasing the number of miners and transactions in the system.
For instance, at the time of report writing, Litecoin had an average price of $99.38 but was down by 5.13% in the last one-day trading. Regardless of its position in the list of market values, it remains among the leading digital, and having a $7.48 billion market capitalization, it holds number 25 in the world today.
Litecoin is still highly available and has impressive network characteristics, which demonstrate its stability and performance; it remains a favorite amongst investors and its consumers.
DISCLAIMER:
The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
