Litecoin (LTC) Makes Waves as 60% of Holders See Profits, Hits New ATH Hashrate

Litecoin ($LTC) has been making waves in the crypto space, with over 60% of its holders now in profit—the highest figure since April.

Litecoin ($LTC) has achieved several milestones in 2024, including having over 60% of its holders now in profit. This marks the highest proportion since April, indicating the network’s strong performance this year.

However, a significant portion of holders still remain at a loss, having purchased during 2021’s peak prices. As these holders approach breakeven, they may choose to sell, potentially creating resistance to Litecoin’s further price increase.

Despite this, some are optimistic that Litecoin will continue to push through and set new highs in this cycle.

Over 60% of LTC holders are now in profit—the highest since April.

Many of the holders still at a loss bought in 2021 and may sell as they break even. Could this create resistance, or will Litecoin push past and set new highs this cycle? pic.twitter.com/EY4iKrKss8

— IntoTheBlock (@intotheblock) November 18, 2024

Litecoin Network Activity Hits All-Time High with 84 Million Transactions

The Litecoin network has also seen a record-breaking year in terms of activity, completing 84 million transactions in 2024. This surpasses the previous year’s total by 17 million and marks the highest number of transactions in a single year for Litecoin.

The network’s growth in adoption and usage is evident in this milestone, which bodes well for the cryptocurrency’s long-term prospects.

NEW RECORD: The #Litecoin network has broken a new milestone, completing 84 million transactions in 2024! The most ever in a year & already 17 million more than in 2023. $LTC is more active than ever! #MondayMotivation pic.twitter.com/KvbS0aNPYW

— Litecoin Foundation ⚡️ (@LTCFoundation) November 18, 2024

Litecoin Hashrate Reaches 1.35 PH/s, Setting a New All-Time High

Moreover, Litecoin’s hashrate has recently reached a record-breaking 1.35 PH/s, indicating the network’s increasing security. This is the highest hashrate ever achieved by Litecoin, and it signifies the vast computational power dedicated to securing the network.

This development enhances the Litecoin network’s resilience against potential threats, such as 51% attacks.

BREAKING – #Litecoin has hit a new ATH Hashrate. The network has never been more secure. $LTC

pic.twitter.com/wuGjSGTV96

— HedgeFi LTC (@NocturnalAutism) November 18, 2024

Litecoin Highlights: Meme Coin Makeover, Wrapped Litecoin on Ethereum, and Potential ETF

In addition to these milestones, several other noteworthy developments have occurred in the Litecoin ecosystem this year.

1. Meme Coin Makeover: Litecoin cheekily rebranded itself as a “meme coin,” sparking a 15% price rally and a wave of social media attention.

2. WLTC on Ethereum: Partnering with Coinut, Litecoin introduced Wrapped Litecoin (WLTC) on Ethereum to expand its utility. However, this move coincided with a 7.6% price dip amid broader market trends.

3. Litecoin ETF Ambitions: Canary Capital has filed for the first-ever Litecoin ETF, potentially opening the doors for broader institutional investment.