Litecoin Transactions Surpass 180 Million in 2023 as Adoption Accelerates

Vignesh Karunanidhi
Litecoin Transactions Surpass 180 Million in 2023 as Adoption Accelerates

The Litecoin blockchain has now facilitated over 180 million transactions in total, according to an announcement from the Litecoin Foundation this week.

The milestone comes amid a surge in on-chain activity, with Litecoin already registering 51 million transactions in 2023 alone as of October. That figure for this year has already eclipsed the full-year record of 39 million transactions set in 2022.

Also read: Sam Altman Talks About US Govt’s Crypto Clash on Joe Rogan

Notable milestone show growing Litecoin adoption

The accelerating transaction count underscores LTC’s growing adoption and utility over a decade after its launch. As one of the longest-running cryptocurrency networks, the network continues to attract users drawn to its scalability, low fees, and integration with services like PayPal.

Critics also contend that privacy-focused rivals offer Litecoin little differentiation anymore regarding fungibility and confidentiality. Litecoin once benefited from these dimensions before anonymity features became commonplace.

Also read: Ethereum Foundation Sold 1,700 ETH for $2.74 Million USDC

LTC currently holds the position of being the fifteenth largest cryptocurrency, with a market capitalization of $4.63 billion. As of the time of this writing, LTC has experienced a 0.70% decrease in value over the last 24 hours, with its price currently at $62.83.

Still, it maintains an ardent community bullish on further disrupting both crypto and mainstream payments. Its growing transaction count confirms steady, albeit slow, progress in seeing broader adoption.