Crypto News

Litecoin ($LTC) Sees Positive Momentum With 5.5% Gain Amid Spot ETF Excitement

As the overall cryptocurrency market enjoys a robust bullish trend, Litecoin ($LTC) has joined the momentum, securing a 5.5% gain and presently trading at $70.

This upward movement aligns with the prevailing enthusiasm surrounding the potential approval of Spot ETFs.

Litecoin has initiated the new year on a strong note, processing a noteworthy 6.3 million transactions since January 1st.

The substantial transaction volume indicates Litecoin’s increasing adoption for everyday payments and transfers, reinforcing its position as a practical cryptocurrency for daily use.

Adding to Litecoin’s positive developments, HashKey Exchange announced the listing of LTC on a licensed virtual asset exchange in Hong Kong on January 10. Trading for the LTC/USD pair is set to commence on January 12, with deposits and withdrawals already open.

Notably, Litecoin network transactions facilitate LTC deposits and withdrawals, and trading activities are limited to professional investors.

Litecoin Had An Impressive 2023, Despite The General Boring Market Movement

Reflecting on Litecoin performance in 2023, the cryptocurrency witnessed a remarkable 71% surge in the number of transactions. The hashrate achieved a new all-time high at 1.06 PH/s, indicating increased network security.

Furthermore, Litecoin experienced substantial growth with a 35% and 39% increase in partnerships with payment processors, reaching a new all-time high of 9.3 million addresses holding a balance.

To conclude, Litecoin positive momentum amid the broader cryptocurrency market highlights its resilience and utility. Finally, the increased transaction volume and strategic listings contribute to LTC positioning as a cryptocurrency with practical applications in real-world transactions.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: gopixa/123RF // Image Effects by Colorcinch

Leave a Comment

Your email address will not be published. Required fields are marked *