Of the many cryptocurrencies on the market today, Litecoin appears to be going through one of the most bullish spells. The LTC price is rising quickly, as are the number of active addresses. More importantly, the realized price is at an all-time high for the first time in years.
Litecoin Momentum Goes Beyond The Price
Whereas the majority of cryptocurrency enthusiasts currently keep an eye on the prices of all crypto assets, there is much more to explore. Various metrics can indicate whether a certain cryptocurrency is worth exploring and investing in. Litecoin, while still often ignored by the majority of investors and speculators, has tremendous potential based on its current metrics.
The first indicator of prominent momentum is the number of active addresses. Litecoin has hit a three-year high in this segment, further confirming the appeal of this asset. It is remarkable to see this renewed interest in Litecoin all of a sudden, even though so many people have mainly ignored the network. For transferring value, Litecoin’s ecosystem is still a solid option.
With over 18.758 million active addresses, Litecoin has entered a very exciting stage. It is good to see more old-school crypto assets compete with one another. Litecoin is one of the oldest projects in the industry and still remains relevant today. Many projects have come and gone since its inception, yet LTC is still standing strong, primarily thanks to a strong community.
An active address does not necessarily belong to individual users. This list keeps track of exchange and wallet addresses, of which users can generate multiple whenever they see the need to. As such, these 17.785 million active addresses do not represent as many unique users or supporters of Litecoin. However, its community is vast and widespread.
LTC Realized Price Perks Up
In line with the active addresses comes a new high for the Litecoin realized price. Not entirely surprising after the bullish price run. Litecoin has gone through in recent weeks. With a realized price of $133.14, it is the first time since 2018 a triple-digit value is recorded. That can be an indicator of how the Litecoin price momentum may not relent just yet.
To some, it may seem strange to see the realized price be lower than the current market value. Trading-wise, one LTC goes for $345, even though the realized cap says something else entirely. Depending on how long this momentum lasts, the realized price will continue to trend higher over time. It may take a while to surpass $200, however.
The year 2021 is shaping up to be very bullish for all cryptocurrencies on the market. New all-time highs have been recorded left, right, and center. It is unclear how long this momentum will remain in place, however. Cryptocurrencies are notoriously volatile in nature and the momentum can shift around on a dime.