Litecoin Surges 5.2% to $70.52 as Network Activity Soars

Litecoin is currently trading at $70.52, a 5.2 percent daily gain that outperforms both Bitcoin and Ethereum. This strong daily move is accompanied by a 41.8 percent rise over the past 30 days, with 173,162 transactions processed in the same period. The Litecoin network has been running busily for weeks, with 569 blocks found in the last 24 hours and a total height of 3,187,987 blocks. The average fee on a transaction is less than half a US cent, and 251 transactions are waiting in the mempool.

The high transaction volume and low fees suggest that Litecoin is handling a high throughput without congestion or rising fees. However, it's essential to note that the number of coins moved on the chain is not a reliable indicator of economic demand, as it includes change outputs and reshuffles between addresses of the same exchange. Mining difficulty has been lowered by 3 percent, indicating that computing power in the network has not grown further lately.

The Grayscale Litecoin Trust has filed an amended registration statement with the US securities regulator, seeking to convert the trust into a Litecoin spot ETF. However, the listing application for the ETF has been with the SEC since January 2025 and has not been approved to this day.