Litecoin has attained a outstanding milestone by setting a brand new file in its community hashrate. The Litecoin Foundation took to X to excitedly announce the milestone reached.
LTC has set a brand new ATH in its community hashrate, an indicator of the general safety of a blockchain community. Mining hashrate is a key safety metric. It is because the extra hashing (computing) energy within the community, the larger its safety and its total resistance to assault.
August 2014 noticed the Litecoin hashrate hit simply 1 TH/s. 4 years later, in August 2018, the hashrate reached 250 TH/s. By August 2022, Litecoin hashrate had doubled to 500 TH/s. As of August this 12 months, the LTC hashrate had elevated to over 750 TH/s.Presently, the hashrate has set new all-time highs of 1.1 PH/s.
Earlier in October, Litecoin marked its twelfth anniversary, celebrating 12 years of zero downtime. Throughout this era, the Litecoin network hit the milestone of 180 million transactions, highlighting a rise in its utilization and rising adoption in the marketplace.
Regardless of the outstanding milestones hit by the blockchain, Litecoin’s value has consolidated in a variety since August. Bulls’ makes an attempt to interrupt out of the vary met an obstacle on the $72.45 stage on Oct. 24.
The Litecoin value reversed its positive factors and was down on a every day and weekly foundation to $69.44.
Up to now week, on Oct. 27, on-chain analytics agency Santiment reported that LTC’s handle exercise and whale transactions spiked, hitting ranges beforehand seen in June 2023.
