• The daily active addresses count lifted to its highest level in four months.
• LTC recorded weekly gains of 6.14% at press time.

Boosted by the overall upbeat sentiment in the market, Litecoin [LTC] was set to finish the work week with significant gains. As of this writing, the “Digital Silver” exchanged hands at $68.55, up 7.95% from what it was a week ago, according to CoinMarketCap.

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Litecoin network gets energized

The market value rip caused frantic activity on the network. As per a post by the on-chain analytics firm Santiment, the daily count of addresses involved in LTC transactions lifted to levels not seen in the past four months.

Whale investors appeared to be the main contributors to the increased network traffic. The weekly count of transactions involving the movement of more than $100k in LTC leaped to 7,418, the highest since June.

The jump in transactions was driven by aggressive buying. Since the beginning of the week, the user cohort holding between 10,000-100,000 coins added nearly 400,000 more LTCs to their bags.

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Author: Aniket Verma

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