As the new year begins, Litecoin (LTC) has achieved a significant milestone. It surpassed 300 million transactions, marking a historic moment for the cryptocurrency and its community.
Launched in October 2011 by Charlie Lee, Litecoin was designed to complement Bitcoin by offering faster transaction times and lower fees.
Litecoin’s 300 millionth transaction: ✅
If you missed it, here’s my short piece celebrating the milestone, and how @litecoin is achieving what the G20 & European Central Bank can’t. https://t.co/QQG3BZsnH3 via @LTCFoundation
— Robbie Coleman (@robertfcoleman) January 6, 2025
The 300 million transaction milestone highlights Litecoin’s adoption and utility as a payment network. This follows as Litecoin carves out its niche, used for real-world transactions.
The year 2024 saw significant growth in transactions for the Litecoin network. By Nov. 19, 2024, almost 84 million Litecoin transactions had been completed. Plus, with a hectic run to the close of 2024, another record was broken: 92,764,978 transactions for the year, a 38.55% increase over the previous all-time high of 66.95 million transactions processed in 2023.
2024 remarkable year for Litecoin
2024 was a spectacular year for Litecoin, its users and the community, ushering in new milestones.
On Jan. 3, 2024, Litecoin had 1.37 million active addresses, surpassing Bitcoin and Ethereum combined. According to IntoTheBlock research, Litecoin users remained active throughout 2024, with an average daily active address of 401,000, a 10% rise over the average of 366,000 in 2023.
On Dec. 28, 2024, Litecoin’s hashrate peaked at a little under 2 PH/s (1.919 PH/s), a new all-time high. Hashrate is a good indicator of Litecoin’s network security and the sincerity of miner intent.
Last October, Canary Capital filed the first Litecoin Spot ETF application (S-1) with the SEC, aiming to push LTC into the mainstream investment market. Coinbase’s Litecoin Futures went live earlier after the Commodity Futures Trading Commission (CTFC) approved Coinbase’s filing, and they were an immediate success. Trading volumes have since increased by 10,950%, bolstering Coinbase’s aspirations to launch perpetual futures in Europe.
Fidelity adopted Litecoin support and custody in July 2024, joining Bitcoin and Ethereum as part of the trading platform’s institutional offerings. At the time of writing, LTC was up 1.63% in the last 24 hours to $113.51 and has gained 12% in the last seven days.
