Litecoin Soars! DAA Hits ATH, Why LTC Price is Surging High?

• Litecoin’s Daily Active Address (DAA) has surged to a new all-time high, resulting in a price rally.
• This surge is believed to be due to the implementation of the LRC-20 standard, allowing users to mint and transfer tokens.
• The rising DAA, transactions count and social dominance indicate that the Litecoin’s market dominance will continue to increase over the other top 100 tokens.

Litecoin’s Price Rally

Litecoin recently experienced a major spark that lifted its price from bearish influence and is currently approaching a crucial resistance. With this surge of transactions, the LTC price rally is expected to achieve an interim milestone at $100 initially.

Rise of Network Transactions

The crypto space has been rolling up and down ever since Bitcoin marked an interim high close to $31,000. Despite many attempts by various tokens including Bitcoin, the bearish trend still continues but not for Litecoin as it shows immense bullish momentum reaching new heights in network strength.

LRC-20 Standards

The network has released new LRC-20 standards following more attention towards Bitcoin’s BRC-20 standard tokens where users can mint and transfer them. This step marks an important evolution in the network despite being in its early stages. Almost immediately after this happened, Litecoin’s DAA levels surged tremendously reaching around 900K when it was previously steady at 300K for quite some time now.

Impact on Price Movement

Apart from enhancing its transaction counts which also recorded highs close to 585K which had been stable around 100K for over a year, social dominance was also observed increasing signifying that Litecoins market growth has outpaced that of other top 100 tokens based on market cap predictions. All these combined factors are likely to cause further upward movements in LTC prices in upcoming days ahead of halving events too.

Conclusion

In conclusion, with all these developments happening within such short period of time we can assume that Litecoin is set for yet another bull run as more adoption comes into play while its rivals struggle with bearish trends due to various reasons like inflationary pressures etc.,