Litecoin

<ul>
 <li><em>Litecoin’s miner difficulty increased in response to the jump in hash rate.</em></li>
 <li><em>LTC grew 2.58% in the last 24 hours.</em></li>
</ul>
<p>Mining activity remains central to a blockchain’s security, the validity of Proof-of-Work (PoW) blockchains, and the issuance of their native cryptocurrencies.</p>
<p>Experts and traders therefore keep a close eye on mining-related metrics to gauge the health of the network.</p>
<h4>Litecoin sees an influx of miners</h4>
<p><a href="https://ambcrypto.com/?s=litecoin" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Litecoin [LTC]</a>, one of the largest PoW chains, saw its mining difficulty surge to an all-time high (ATH) of 30.03 million (M), AMBCrypto spotted using Litecoin Space data.</p>
<p>This marked a difficulty increase of nearly 6% in the last 24 hours and a 16% jump over the last week.</p>
<div id="attachment_358731" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Hashrate-Difficulty.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-358731" decoding="async" class="size-full wp-image-358731" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Hashrate-Difficulty.jpg" alt="" width="1350" height="422" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Hashrate-Difficulty.jpg 1350w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Hashrate-Difficulty-300x94.jpg 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Hashrate-Difficulty-1024x320.jpg 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Hashrate-Difficulty-768x240.jpg 768w" sizes="(max-width: 1350px) 100vw, 1350px"></a>
 <p id="caption-attachment-358731" class="wp-caption-text">Source: Litecoin Space</p>
</div>
<p>As is well established, mining difficulty is periodically adjusted based on the total network hash rate. This is done to ensure that the time taken to generate a new block remains constant, i.e., 2.5 minutes on the Litecoin blockchain.</p>
<p>In the present scenario, a sharp uptick in hash rate was observed over the last few days, peaking at 872 TeraHashes per second (TH/s) at press time. This was possibly due to an influx of miners/rigs or the adoption of sophisticated mining equipment.</p>
<p>Therefore, to offset the increased mining capability, difficulty was increased.</p>
<p>A higher mining difficulty, on a broader scale, suggests that the network was more secure, ruling out manipulation by a select few powerful entities.</p>
<p>Moreover, the growing number of miners also reflected network growth, a bullish signal for LTC in the long run.</p>
<h4>Network utilization jumps</h4>
<p>Litecoin has been quite active since December 2023, with daily active users and on-chain transactions reaching unprecedented levels. Active addresses surged to ATH of 1.39 million on 8 December, AMBCrypto found using Santiment’s data.</p>
<div id="attachment_358746" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-13.35.48-14-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-358746" decoding="async" class="size-full wp-image-358746" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-13.35.48-14-Dec-2023.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-13.35.48-14-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-13.35.48-14-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-13.35.48-14-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-13.35.48-14-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-13.35.48-14-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-13.35.48-14-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <p id="caption-attachment-358746" class="wp-caption-text">Source: Santiment</p>
</div>
<h4>Fees still not burning a hole</h4>
<p>However, despite growing traffic, transaction fees remained very much in control. On average, miners earned $1.84 for every block produced, data from Litecoin Space showed.</p>
<p>This was significantly lower than the $3.44/block charged during the Ordinals frenzy in May.</p>
<div id="attachment_358753" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Block-fees.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-358753" decoding="async" class="size-full wp-image-358753" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Block-fees.jpg" alt="" width="1332" height="414" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Block-fees.jpg 1332w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Block-fees-300x93.jpg 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Block-fees-1024x318.jpg 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Block-fees-768x239.jpg 768w" sizes="(max-width: 1332px) 100vw, 1332px"></a>
 <p id="caption-attachment-358753" class="wp-caption-text">Source: Litecoin Space</p>
</div>
<p style="text-align: center;">Is your portfolio green? Check out the&nbsp;<a href="https://ambcrypto.com/calculator/litecoin-profit-calculator" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">LTC Profit Calculator</a></p>
<p>A plausible reason behind this could be the increase in hash rate, which made sure transactions were getting included in a block quickly. As a result, users didn’t have to bid up fees to jump the queue.</p>
<p style="text-align: left;">The jump in mining indicators had a positive bearing on the native coin, LTC. The “digital silver” grew 2.58% in the last 24 hours, AMBCrypto observed using <a href="https://coinmarketcap.com/currencies/litecoin/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinMarketCap’s</a> data.</p>

Litecoin sees this change as network activity grows

AMBCrypto

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