Dogecoin

Cardano

Litecoin

Avalanche

<p>A sharp market drop on Tuesday led to one of the worst days in recent months for major tokens and midcaps. The decline came after Google revealed it was conducting benchmark tests on its new Willow quantum computing chip, raising concerns over the impact on crypto privacy and wallet security in the market.</p>
<p>Litecoin was no exception, plunging over 8%, briefly dipping to $104, and eventually recovering to around $113. Despite this, it continues to lead several prominent altcoins in terms of network activity.</p>
<h2 id="litecoin-sees-record-activity">Litecoin Sees Record Activity</h2>
<p>Litecoin continues to demonstrate strong usage as one of the older Layer 1 networks, according to a recent <a href="https://x.com/intotheblock/status/1866165270387237117?" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">analysis</a> by IntoTheBlock. With over 370,000 daily active addresses and more than 200,000 daily transactions, Litecoin has surpassed networks like Dogecoin, Cardano, and Avalanche in terms of activity.</p>
<p>A key driver of this engagement is Litecoin’s role as one of the few cryptocurrencies being actively used for payments, solidifying its position in real-world use cases, as per the findings of the on-chain analytic platform. Its high daily transaction volume, roughly equivalent to its total market cap, further highlighted its utility.</p>
<p>Additionally, Litecoin boasts 7.94 million addresses with a balance, with a majority of them belonging to long-term holders. Notably, 72% of these holders are currently in profit.</p>
<p>Meanwhile, Litecoin’s <a href="https://x.com/LTCFoundation/status/1866235559213224232" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">hash rate</a> also reached a new all-time high this week, hitting 1.80 PH/s at block 2,806,273. This milestone highlights the growing security of the network, reinforcing Litecoin’s resilience and its continued appeal despite the setbacks on the price front.</p>
<h2 id="litecoin-drives-massive-profit-growth-for-bit-mining">Litecoin Drives Massive Profit Growth for BIT Mining</h2>
<p>The hash rate increase comes on the heels of BIT Mining’s <a href="https://www.btcm.group/news-detail?id=134193" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">announcement</a> which revealed that its shift to mine Litecoin alongside Dogecoin has proven highly profitable, with the company reporting nearly three times greater returns than mining Bitcoin alone. As of November 27, BIT Mining mined 84,485.42 LTC, valued at $10.7 million, and 227,908,250.38 DOGE, worth $94.8 million.</p>
<p>While the company did not disclose how much of the mined Litecoin and Dogecoin it retained, both cryptocurrencies have seen notable price increases in recent weeks, further boosting their profitability.</p>
<p>The post <a href="https://cryptopotato.com/litecoin-outpaces-dogecoin-and-cardano-in-this-important-metric/" rel="noopener noreferrer nofollow">Litecoin Outpaces Dogecoin and Cardano in This Important Metric</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Litecoin Outpaces Dogecoin and Cardano in This Important Metric

Table of Contents

CryptoPotato_News

Other articles published on Dec 10, 2024

Memecoin Mania Hits Next Leg: Vantard Emerges as the Ultimate Degen Play

Mid-2025 Crypto Slump: Analyst Predicts Downturn in Market

Magic Eden Lists $ME and Supports Solana NFT Sales With ME Tokens

Crypto Exchange Volume Hits $2.9T in November, Highest Since May 2021

21Shares Introduces Four New ETPs for Pyth, Ondo, Render, and Near

Sony’s market value surges, breaking 24 years stock record

Join our free newsletter for daily crypto updates!