Top 5 cryptocurrencies by network activity to buy in January 2024

Using cryptocurrencies constitutes a relevant part of their demand and price formation. This use can be measured through different metrics, the network activity or daily addresses activity (DAA) being two.

Timeline of Litecoin

The number of daily transactions on the Litecoin network reached an all-time high of 1.09 million on November 14, surpassing even Bitcoin's transaction count of around 523,284 at the same time.

In the dynamic crypto market, Litecoin (LTC) and Monero (XMR) demonstrate resilience and growth potential in relation to their resistance levels, with Litecoin (LTC) expanding into mainstream adoption and Monero (XMR) strengthening its position as a privacy-focused currency.

Litecoin (LTC) is immersed in a significant wave of sales, marked by a pronounced decline in the number of holders. In the last 10 days, approximately 2.13% of all Litecoin wallets liquidated their entire assets, representing the most substantial drop since October 2022.

In a striking rebound from its August lows, Litecoin (LTC) is now poised to reclaim its pre-halving price range. This optimistic market sentiment is driven by a blend of factors, including significant institutional interest and robust support from its mining community.

With its latest break above the $74 barrier, Litecoin (LTC) is showing encouraging signs of a breakout into the bull market. Increased transaction activity from miners and major investors in cryptocurrency is fueling expectations of an upward trend and suggests that a huge price spike is imminent.

Following 3 tokens, each have distinct qualities and growth possibilities, making them noteworthy options for investors seeking high returns: 1. Litecoin Shines with Transparency and Security Litecoin has recently earned attention for its transparency and commitment to user security.

Litecoin price has held the $70 territory for the last 3 consecutive days, for the first time since August. On-chain analysis pinpoints the critical drives behind the ongoing Litecoin price rally.

Litecoin (LTC) shows signs of a potential bullish rebound in the coming days. Recent crypto market data indicates that Litecoin's price has increased by nearly 14 percent since October 18, and it is now trading at around $67 as of Friday.

Litecoin (LTC) price briefly retested the $70 territory on Monday, as the bulls continue to power a recovery from the 2023 bottom of $58 recorded mid-last month. Key on-chain indicators provide data-driven insights into where LTC price could head next.

In the months leading up to the Litecoin halving in August, the price of the blockchain's native LTC token was continuously on the rise. This renewed interest in investors who rushed back into the token and eventually pushed its price above $100.