IntoTheBlock Analysis Finds Litecoin Processes $2.85 Billion in Large-Scale Transactions Daily

IconCryptoNewsTerminal Staff12 Jul, 2024

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IntoTheBlock Analysis Finds Litecoin Processes $2.85 Billion in Large-Scale Transactions Daily

The cryptocurrency market data analysis platform IntoTheBlock has analyzed the Litecoin (LTC) network and found that, on average, $2.85 billion in large-scale transactions (over $100,000) are processed daily, a figure that represents more than 50% of LTC's market cap. IntoTheBlock further explained that the Litecoin network processes more daily large transaction volume than most other layer 1s. For example, Dogecoin (DOGE) has a market cap roughly 3x that of Litecoin, but only processes a daily average of $590 million in large transactions, indicating that whales are very active on the Litecoin network.

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