Investing.com | Editor Nikhilesh Pawar
Published Nov 17, 2023 02:06PM ET
NEW YORK – Litecoin (LTC), a peer-to-peer cryptocurrency, has recently made significant strides in its transaction volume, reaching a historic milestone earlier this week. The digital currency saw over one million transactions in a single day, surpassing the transaction volume of Bitcoin. This surge in activity was highlighted by analytics firm IntoTheBlock on Thursday, which noted that Litecoin’s transaction peak was more than double that of Bitcoin.
The momentum for Litecoin continued today as it nearly matched Bitcoin in terms of daily active addresses, boasting approximately 800,000 users. Additionally, the network has seen a substantial increase in the number of new Ordinals—unique digital assets that can be created and transferred on the Litecoin blockchain.
In response to Litecoin’s growing prominence and increased user activity, Bakkt, a digital asset management platform, announced today the inclusion of Litecoin in its enhanced custody service offerings. This move is part of Bakkt’s broader platform expansion and reflects the company’s confidence in Litecoin’s potential and robust security features.
This development marks a notable shift in the cryptocurrency landscape, with Litecoin emerging as a strong contender in the space traditionally dominated by Bitcoin. The increased adoption and integration into financial services platforms like Bakkt underscore the growing market recognition of alternative cryptocurrencies beyond the leading names.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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Written By: Investing.com
