Based on recently released data by Santiment, Litecoin has overtaken the second-largest cryptocurrency Ethereum, by the number of active addresses.
Popular analytics service Santiment announced that the 15th-largest crypto, LTC has taken over the biggest DeFi and NFT platform Ethereum by active wallets.
Santiment analysts believe that activity within the Ethereum chain is being impacted by the high current fees.
Additionally, Santiment tweeted that the Litecoin payment count, which determines the number of wallets accepting LTC has reached a record high.
? #Litecoin has just flipped #Ethereum in terms of address activity for just the third time this year. We've also discovered that #Litecoin's payment count, which quantifies the number of addresses receiving $LTC, has hit an #ATH. Read our full analysis. https://t.co/kNSwE6307m pic.twitter.com/nOoWi257C4
— Santiment (@santimentfeed) October 13, 2021
In September this year, word began to circulate that the retail giant Walmart was looking at accepting Litecoin. This gave Litecoin a boost initially; however, later on, the news turned out to be fake.
Litecoin Foundation chief Charlie Lee told the mainstream media that he was a victim of this unsubstantiated rumor. He tweeted it, not realizing that it was a hoax, and then promptly removed the tweet.