Litecoin processes $2.85 billion in transactions over $100,000,A daily amount is over 50% of Litecoin’s market cap, according to data from IntoTheBlock. IntoTheBlock provides intelligent access to decentralized finance (DeFi) market intelligence with advanced DeFi tools.
Litecoin Tops Layer 1s in Daily Large Transactions
Litecoin daily large transactions exceeded most Layer 1 blockchains today. For example, Dogecoin, which has three times Litecoin’s market capitalization, only processes 590 million large value transactions daily. This indicates higher traffic in large-value transactions for Litecoin, which points towards the activity of major investors and whales which is a good sign for Litecoin.
The fact that Litecoin boasts a high daily transaction rate demonstrates its relevance in the sphere of cryptocurrencies. Even though Litecoin has a lower market capitalization than some other cryptocurrencies. However, its capacity to process significant volumes of daily transactions demonstrates its effectiveness and stability.
High Litecoin Transactions Suggest Promising Future Market Growth
This high level of activity on the Litecoin network can impact its market and may potentially foster future growth. In the context of massive investors’ interest, Litecoin might become an even more significant part of the general cryptocurrency community. In this way, it will attract more investors.
Last but not least, the large number of transactions that occur daily on Litecoin demonstrates the platform’s large position within the digital currency market due to the immense influence of whales.
