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Litecoin Hits a Yearly High of $315 Amid Spike in New Addresses
The 10th largest cryptocurrency, Litecoin (LTC), is back on the uptrend after reaching another yearly above $430 AUD ($330 USD) this weekend.
Although the cryptocurrency has not crossed its all-time high (ATH) yet, which was $360 USD back in Dec 2017, this new trend upwards is more than welcomed for the LTC community, who have been patiently waiting.
Interest in Litecoin in Soaring
The chart below shows the price action of LTC which you can see is showing a strong uptrend.
Litecoin is often ignored as a “store of value” and more seen as a “payment coin” which is backed up by the increase of transactions, rising significantly since the beginning of the year. Transactions in Bitcoin and Ether are quite expensive compared to Litecoin being 15% lower fees than BTC.
New LTC Addresses Reach Three-year High
New Litecoin addresses have also been increasing over the past months, which is indicative of the growing demand and interest in the LTC ecosystem.
On the seven-day moving average (7D MA), the number of new LTC addresses spiked to a three-year high of 4,990.982, according to data from Glassnode, an on-chain crypto analytics platform.
Author
Ibiam Wayas
Ibiam is an optimistic crypto journalist. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.
