Litecoin (LTC) has achieved a significant milestone by maintaining a 100% uptime record since its inception in 2011. This achievement is rare in the cryptocurrency space, where technical issues and network outages are common. The Litecoin network, created by Charlie Lee, has been running smoothly for over 13 years, processing transactions and securing the blockchain without any interruptions.
One of the key factors contributing to Litecoin’s success is its use of the proof-of-work (PoW) consensus and the Scrypt algorithm. This algorithm is claimed to be more power-efficient and accessible than the SHA-256 algorithm used by other cryptocurrencies. It provides a lower barrier to entry, allowing more people to participate in the network and contribute to its operation.
Recently, the Litecoin network reached a significant milestone when the hashrate topped 2 PH/s at block height 2,816,339. The network has also seen an increase in average daily active addresses, with a peak of 1.37 million active addresses in a single day. According to data from IntoTheBlock, Litecoin had 8.25 million addresses with a balance as of December 23, with the majority of them being long-term holders who are currently in profit.
Approximately 78% of Litecoin addresses have held their LTC for over a year, indicating a strong level of commitment from long-term holders. These holders typically accumulate during bear markets and sell near high prices. The Litecoin network sees nearly 200,000 daily transactions, with most of this activity attributed to payments and other transactions within the network.
As of the latest data, Litecoin is currently trading at $99.38, down 5.13% in the last 24 hours. It ranks as the 25th largest cryptocurrency with a market valuation of $7.48 billion. Despite the recent price drop, Litecoin’s strong network fundamentals and consistently high uptime record make it a compelling investment option for crypto enthusiasts and investors looking for a reliable digital asset with a proven track record of stability and performance.
