The Litecoin community has seen sustained utilization in 2019 regardless of the broader collapse within the majority of the cryptocurrency markets. In response to dataprovided by Bitinfocharts, over $100bn was despatched over the community within the 2019 interval.
This was a lower from 2018, primarily on account of bull market peak in January the place $5bn a day was being transacted. Omitting this exercise within the first half of the 12 months, it seems that 2019 has seen a slight development within the common worth transferred every day from ~$200m to ~$300m.
2019 notably noticed Litecoin’s 2nd halving happen which resulted in elevated speculative exercise on the community. Omitting this information as deviating from imply market situations would see a roughly equal worth switch between 2018 and 2019. This will communicate to a wider base degree curiosity from non-speculative community individuals. This base seems to have strongly fashioned at round $100m/day inside a gentle quantity of ~21,000 transactions.
Because of this the common transaction worth has discovered comfy assist at ~$5k/transaction. Having a look at median transaction values nonetheless, tells us that that is being pushed up by a handful of very massive worth transactions because the median is way nearer to $50/transaction. It could be affordable to hypothesise that almost all of worth is from a small variety of excessive internet price people, funds or companies.
Whereas $100bn is a staggeringly massive quantity as compared, it’s dwarfed by conventional fee networks similar to Visa, which experiences a complete transaction quantity of $11Tn for the 2018 interval. Visa even buries Bitcoin which transacted ~2.5Tn in 2019. After all the comparability between the 2 is flawed, as Litecoin is a cryptocurrency and Visa is a service for fiat currencies, it doesn’t take note of complete worth despatched in $USD and solely offers insights into one space of the bigger market .
This does imply nonetheless, that there’s a great distance but to go and many room for the crypto markets to develop, if they’re to attain that aim of displacing the previous guard.
