Litecoin Transactions Hit All-Time Highs Amid Bitcoin Network Congestion and High Fees

The Litecoin blockchain has experienced a surge in daily transactions over the past two days, as the Bitcoin network struggles with congestion and higher transaction fees. According to data from Glassnode, Litecoin processed a record-breaking 576,708 transactions on Tuesday, compared to just 100,684 on May 1.

Additionally, the number of new addresses created on Litecoin surpassed that of Bitcoin since Friday, with 677,769 new addresses created on Tuesday alone. This increase in Litecoin adoption may be due to the recent congestion on the Bitcoin blockchain, which has led users to explore alternative solutions such as the Lightning Network.

Bitcoin $61,962.89

-0.88%

Litecoin Blockchain Bitcoin

Original Link

Comments

All Comments

Recommended for you

cointelegraph ·

Bitcoin opens $63K futures gap as thin liquidity threatens BTC price

Bitcoin market participants are doubting the staying power of the ongoing BTC price relief bounce.
Blockchain Asset Management announces launch of a dedicated blockchain fund for accredited investors

Blockchain Asset Management, a cryptocurrency fund with a scale of $100 million, announced the launch of an exclusive blockchain fund for qualified investors. The specific amount of funds raised by the fund has not been disclosed yet, but it is said to have reached "eight figures", which means it is in the tens of millions of dollars. In addition, the investment threshold for the new fund is $100,000, and all investors are required to meet the approved standards (annual income exceeding $200,000, net assets exceeding $1 million).
Cointime May 3rd News Express

1. The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days
BTC falls below $58,000

Golden Finance reported that according to OKX market data, BTC briefly touched $57,700 and is now trading at $58,581.53, with a daily decline of 7.15%. The market is volatile, so please be prepared for risk management.
Bitcoin Asia ·

Bitcoin Conference to Bring Star-Studded Lineup of Speakers to Hong Kong on Dawn of Historic ETFs.

Excitement is brewing in the heart of Asia as Hong Kong regulators pave the way for a new era of innovation with the recent approval of spot Bitcoin exchange-traded funds (ETFs). This groundbreaking development underscores Hong Kong's commitment to becoming a regulated hub for Bitcoin. At the same time, the Bitcoin Conference is bringing the best and brightest Bitcoiners from around the world to Hong Kong for Bitcoin Asia.
Cointime精选 ·

The Untold Story of ditto-b

The story of an anonymous developer who fixed a critical flaw in Bitcoin's code.
Cointime精选 ·

Bitcoin Valuation by Savings Adoption

A mid-term approach to price modelling Bitcoin is something entirely new, something never before observed. Because of this, many of the trusted tools in our financial toolkits might simply not do a very good job of modelling its performance, and it’s causing apprehension among analysts who are used to deploying certain modelling tools to make sense of asset pricing.
Cointime April 23th News Express

1. EigenLayer: Deposit limits for all LST tokens will be removed on April 16
Arthur Hayes ·

Heatwave

The Bitcoin block reward is forecast to halve on April 20th. This is seen as a bullish catalyst for crypto markets. I agree that it will pump prices in the medium term; however, the price action directly before and after could be negative. The narrative of the halving being positive for crypto prices is well entrenched. When most market participants agree on a certain outcome, the opposite usually occurs. That is why I believe Bitcoin and crypto prices in general will slump around the halving.
Cointime April 5th News Express

1.Mystiko.Network Community Sale Completed, Total $11.25 Million in XZK Sold2.Solana Co-founder Responds to the Sharp Increase in Transaction Failure Rates: Patch Coming Soon3.Ethena USDe market value exceeds 2 billion US dollars, setting a new record4.Du Jun, Executive Director and CEO of Xinhuo & Founder of ABCDE: Xinhuo Technology and ABCDE will invest 100 million US dollars to support blockchain companies that promote social development 5.QCP Capital: Bitcoin is expected to return to $70,000 this week, while Ethereum continues to be weak6.bitSmiley Labs officially launches its independent ecosystem plan, bitUniverse, and reveals its OG pass bitDisc-Black Upgraded Priviledges 7.Avalanche Foundation launches ice-breaking plan, focusing on LST track in the first phase and funding 500,000 AVAX 8.SuperRare Expands into Bitcoin Ordinals with Killer Acid's Psychedelic Art Collection 9.A dormant whale address for 8 months deposited 1,100 BTC into Binance10.Meme exchange DerpDEX.com completes multi-million dollar strategic investment, with participation from ABO Digital and others