Litecoin Value Surges 24% in a Week, Hits $82 High
The Key Points at a Glance
Litecoin (LTC) has seen a 24% increase in the past seven days. Despite a decrease in fees for Litecoin miners, increased activity may soon be observed as LTC is currently experiencing an upswing. The hash rate of Litecoin is currently reaching one of its highest values and the mining difficulty of LTC has also increased.
Increase in Litecoin’s Mining Statistics
According to a Litecoin post, the network’s hash rate and difficulty have recently increased. A closer look at the hash rate showed that it exceeded 978 trillion at the end of February 28. Prior to this point, the hash rate had reached unprecedented heights.
Litecoin Miner Fee Still Lags Behind the Rate
Despite the observed increase in the hash rate, miners have not yet experienced a significant increase in their fees. An analysis of the fee trend on Glassnode showed that the miner’s fee dropped sharply in January, from over 32 in December to about 11.4. Although there were attempts at recovery, it did not exceed 14.3. As of the current status, the miner’s fee is over 13.8.
24-Hour Value of LTC Shoots Up
In the last three days, Litecoin has experienced significant upward trends, leading to a gain of over 6% and ending trading at the end of February at about $74. However, at the time of writing this post, it was trading with an even more pronounced increase, exceeding 9% at nearly $82. This is the first time since August 2023 that LTC has reached this trading position.
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Our Assessment
The recent developments in Litecoin show that there is increased activity despite the currently low miner fees. The rising hash rate and the value increase of LTC could suggest that more users are entering the network and interest in LTC is growing. It remains to be seen how these trends will develop in the coming weeks.
Sources: AMBCrypto, Glassnode, Trading View
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| Symbol | LTC |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
|
| Cons |
|
| Price | $89.57 |
| 24h % | 3.24 % |
| 7d % | 10.93 % |
| 30d % | 28.11 % |
| 60d % | 33.33 % |
| 1y % | 26.70 % |
| Market Cap | $6,747,092,953.00 |
| Max. Supply | 84,000,000.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X | Message Board |
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