Litecoin leads Cardano 12x on THIS front – What’s happening?
What is the current number of active addresses on Litecoin as compared to Cardano?
The current number of active addresses on Litecoin is significantly higher than that of Cardano. According to IntoTheBlock, as of May 31st, 2024, Litecoin had 357,260 active addresses, while Cardano had only 28,630 active addresses3. This indicates that Litecoin's network activity is much higher than Cardano's, with Litecoin having 12 times more activity than Cardano3.
What was the price of Litecoin and Cardano at the time of the report?
At the time of the report, Litecoin [LTC] was trading at $84.52, marking a 1.53% increase over the last 24 hours. Cardano [ADA], on the other hand, was trading at $0.45, showing little movement.
How does the market cap of Cardano compare to that of Litecoin?
Cardano's market cap is higher than Litecoin's by almost $10 billion. However, when it comes to network activity, Litecoin has a significant lead. According to IntoTheBlock, the number of active addresses on Litecoin was 357,260 on the 31st of May, while for Cardano, it was only 28,630. This means that activity on Litecoin was 12 times that of Cardano. While this might not happen all the time, a rising activity could potentially indicate a higher price for a cryptocurrency.