Key Points
- Litecoin’s network saw a significant 75% increase in active addresses on June 6, surpassing Ethereum.
- Despite a recent price drop, both Ethereum and Litecoin may soon hit major milestones.
On June 6, an unexpected surge in active addresses on Litecoin‘s network was observed, outperforming Ethereum.
Data from IntoTheBlock shows that Litecoin’s active addresses exceeded Ethereum’s by over 100,000, with a total of 602,720. This is the highest network activity level since January.
Litecoin Outperforms Ethereum
Active addresses are a measure of unique wallets participating in successful transactions on a blockchain. Notably, Litecoin had also recently surpassed Cardano [ADA] in terms of active addresses.
It’s worth noting that the majority of these transactions originated from wallets with smaller balances. However, holders of Litecoin worth between $10,000 and $10 million were also active.
Future Prospects for LTC and ETH
Despite a recent drop in prices, both Ethereum and Litecoin may be on the verge of surpassing significant milestones. This is according to IntoTheBlock’s latest post, which stated, “While most of the increase is due to transactions smaller than $10, there is a noticeable rise in transactions of all sizes.”
