• Litecoin has seen a surge in adoption recently, surpassing Ethereum in total addresses.
• This is an indication that new investors are entering the crypto space.
• The total number of Ethereum addresses was greater than that of Litecoin until recently, but LTC has seen a sharp growth in new addresses on the network.
Litecoin, one of the biggest cryptocurrencies in the world, has been observing a surge in adoption recently and has now surpassed Ethereum in total addresses. This is an indication that new investors are entering the crypto space and taking an interest in Litecoin.
The metric used to measure the total number of unique addresses of a cryptocurrency is called “total addresses” and it is provided by the on-chain analytics firm Glassnode. This metric measures the total number of addresses of a cryptocurrency that have been involved in at least one transaction (whether as a sender or a receiver) on the chain during the entire lifetime of the network. As the value of this metric goes up, it can be seen as a sign of new investors adopting the crypto.
A comparison between the total addresses metrics for Litecoin and Ethereum shows that the two metrics crossed each other in recent days. Ethereum’s total addresses were greater than that of Litecoin until recently, however, LTC has observed some sharp growth in new addresses on the network over the last few months. This indicates that more and more people are becoming interested in Litecoin and investing in it.
The director of the Litecoin Foundation also tweeted about this growth, stating that the adoption of LTC has continued to accelerate even after surpassing Ethereum in total addresses. This is an encouraging sign for the cryptocurrency and could help it gain more mainstream adoption in the future.
Overall, the surging adoption of Litecoin is a sign that the cryptocurrency market is maturing and that more and more people are interested in investing in the space. This could be a great opportunity for investors, as the potential returns of cryptocurrencies are much higher than traditional investments. Therefore, it is worth keeping an eye on the adoption of Litecoin as it could be a great investment opportunity.