Number of New Litecoin Addresses Increases by 55%

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The number of new addresses on the Litecoin network increased by 54.6% between June 10 and June 17, surpassing the 300,000 mark.

In parallel, the number of active wallets has increased by 28% to 400,000.

According to Glassnode specialists, a record level of 200 million addresses was reached in the same week. The Litecoin network has surpassed the Ethereum blockchain, which has around 180 million wallets created in total.

The increase in network activity is likely related to the next halving, scheduled for August 4, 2023. The current block reward on the litecoin network is 12.5 LTC. After the halving, the amount will be halved to 6.25 LTC.

According to analyst Shan Belew, in May, the blockchain momentarily surpassed its “main” network in terms of the daily number of new addresses.

Bitcoin is five times larger than Litecoin in total wallets with 1.14 trillion.