Litecoin saw a significant jump in transaction volumes as compared to the last halving event in 2019, indicative of greater demand.
The findings were backed up by popular on-chain research firm Santiment. Following the 2019 halving, the volume of LTC coins flowing on the network on a daily basis decreased dramatically.
Needless to say, the current levels pale in comparison to the highs seen during the 2021 bull market, when double-digit billion figures were getting logged on a daily basis.The rise in transaction volume stemmed from an increase in overall transaction count, meaning that more people were interested in buying and selling LTC. Naturally, to trade more LTC, mining activity needs to be amped up to keep pace with the demand.
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