Ethereum

Litecoin

Note

<ul>
 <li><em>Network utilization outpaced market cap growth.</em></li>
 <li><em>Litecoin’s network usage charges were still significantly low.</em></li>
</ul>
<p><a href="https://ambcrypto.com/?s=litecoin" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Litecoin’s [LTC]</a> on-chain activity was witnessing a late-year bump.</p>
<p>According to on-chain analytics firm IntoTheBlock, the active address count has exceeded that of <a href="https://ambcrypto.com/search/ethereum" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Ethereum [ETH]</a> since the beginning of December, signaling significant demand for the “digital silver.”</p>
<div id="attachment_359926" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-new.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359926" decoding="async" class="size-full wp-image-359926" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-new.jpg" alt="" width="1823" height="500" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-new.jpg 1823w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-new-300x82.jpg 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-new-1024x281.jpg 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-new-768x211.jpg 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-new-1536x421.jpg 1536w" sizes="(max-width: 1823px) 100vw, 1823px"></a>
 <p id="caption-attachment-359926" class="wp-caption-text">Source: IntoTheBlock</p>
</div>
<h4>Network activity outgrows market cap growth</h4>
<p>Along with the surge in active users, there was a considerable spike in LTC transfer volumes as well.</p>
<p>AMBCrypto’s review of Santiment data showed daily transaction volumes averaging $19 million in December, up from $16 million-$17 million in the previous two months.</p>
<p>The NVT ratio, which is negatively correlated to transaction volumes, fell in the same period. <span data-slate-fragment="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">This implied that network utilization outpaced market cap growth, historically interpreted as a bullish signal.</span></p>
<div id="attachment_359930" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-15.53.21-21-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359930" decoding="async" class="size-full wp-image-359930" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-15.53.21-21-Dec-2023.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-15.53.21-21-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-15.53.21-21-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-15.53.21-21-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-15.53.21-21-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-15.53.21-21-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-15.53.21-21-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <p id="caption-attachment-359930" class="wp-caption-text">Source: Santiment</p>
</div>
<h4>Litecoin still cheap to use</h4>
<p>However, despite the surge in traffic, Litecoin’s network usage charges were still significantly low.</p>
<p>Using Glassnode, AMBCrypto detected 1.19 million transactions on Litecoin on the 19th of December, higher than Ethereum’s count of 1.13 million.</p>
<p>But when it came to costs, Litecoin charged just $0.0019 per transaction on average, quite lower than Ethereum’s exorbitant rates of $12.19 on average.</p>
<div id="attachment_359940" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/glassnode-studio_ltc-transaction-count-ltc-fees-mean-eth-fees-mean-ltc-transaction-count-eth-transaction-count.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359940" decoding="async" class="size-full wp-image-359940" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/glassnode-studio_ltc-transaction-count-ltc-fees-mean-eth-fees-mean-ltc-transaction-count-eth-transaction-count.png" alt="" width="1800" height="1013" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/glassnode-studio_ltc-transaction-count-ltc-fees-mean-eth-fees-mean-ltc-transaction-count-eth-transaction-count.png 1800w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/glassnode-studio_ltc-transaction-count-ltc-fees-mean-eth-fees-mean-ltc-transaction-count-eth-transaction-count-300x169.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/glassnode-studio_ltc-transaction-count-ltc-fees-mean-eth-fees-mean-ltc-transaction-count-eth-transaction-count-1024x576.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/glassnode-studio_ltc-transaction-count-ltc-fees-mean-eth-fees-mean-ltc-transaction-count-eth-transaction-count-768x432.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/glassnode-studio_ltc-transaction-count-ltc-fees-mean-eth-fees-mean-ltc-transaction-count-eth-transaction-count-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px"></a>
 <p id="caption-attachment-359940" class="wp-caption-text">Source: Glassnode</p>
</div>
<p>Note that Ethereum’s high gas fees have been an established constraint to its scalability in recent years. This has led to the mushrooming of scaling solutions.</p>
<h4>LTC stays glued</h4>
<p>Litecoin’s impressive on-chain indicators failed to exert any upward pressure on its native token, LTC. The 18th largest crypto by market cap remained unmoved in the last 24 hours of trading, AMBCrypto noted using <a href="https://coinmarketcap.com/currencies/litecoin/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinMarketCap</a> data.</p>
<p>In stark contrast to the gains made by other altcoins over the last month, the “digital silver” remained glued, with insignificant gains of 0.4%.</p>
<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>Whales also seemed to have turned their backs on the coin. A noteworthy drop in transactions worth at least 100,000 was observed over the last 10 days, data from Santiment revealed.</p>
<div id="attachment_359945" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-16.59.49-21-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359945" decoding="async" class="size-full wp-image-359945" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-16.59.49-21-Dec-2023.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-16.59.49-21-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-16.59.49-21-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-16.59.49-21-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-16.59.49-21-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-16.59.49-21-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Litecoin-LTC-16.59.49-21-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <p id="caption-attachment-359945" class="wp-caption-text">Source: Santiment</p>
</div>
<p>The decline in transactions could be a result of a bearish narrative around the asset. The Weighted Sentiment indicator trended in the negative zone after the first week of December.</p>

Litecoin: Despite rising activity, LTC fails to rise

AMBCrypto

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