March 29, 2024

Litecoin network hashrate reaches new record

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Litecoin network hashrate reaches new record

The Litecoin Foundation reported that the cryptocurrency's hashrate reached a new record of 886.17 Tx/s.Against this background, the rate of the LTC coin has risen by 7% over the past week, and since the beginning of the year, the growth40%.

Bitcoin and Ether rose by 13.5% and 11.9%, respectively, over the same period.Also in the last week, the Litecoin network processed the 144 millionth transaction.

"The new hashrate record on the Litecoin network directly shows stable, healthy, and high-quality growthecosystem and also emphasizes the security of the network," the Litecoin Foundation tweeted.

It is possible that the growth of the Litecoin hashrate was facilitated by the growth of the Dogecoin hashrate.This cryptocurrency is built on the basis of the Litecoin code and miners canMine both coins at the same time without the need for additional computing resources.

Interestingly, despite the growth rate and the influx of new miners, the number of active addresses in the network of this coin has decreased over the past week.However, other indicators such as MVRV and EMA and Bollinger Bands indicators speakin favor of the growth of the LTC rate.

In January, BIT Mining announced the release of a new miner for mining Litecoin and Dogecoin.The model was called LD3.