![Here’s the full state of Litecoin’s [LTC] market since the MW upgrade](https://i.headtopics.com/images/2022/9/26/cryptoamb/here-s-the-full-state-of-litecoin-s-ltc-market-sin-here-s-the-full-state-of-litecoin-s-ltc-market-sin-1574218506618511360.webp)
The project behind the infamous MimbleWimble upgrade, Litecoin [LTC] recently saw its hashrate hit a new all-time high (ATH). According to data from OKLink, the hashrate ATH of 511.56 TH/s was logged on 22 September. Trading at a price level that was 87% from its ATH, LTC’s press time price was representative of a decline […]
, the index of addresses that have traded LTC since the month started has declined steadily. At press time, daily active addresses on the LTC network stood at 212,000, dropping by 34% in the last 24 days.
With a fall in the number of addresses that traded the coin daily, the aggregate amount of LTC coins in all transactions completed so far this month has also fallen by 46%. In USD terms, this was a decline worth $3.55 billion to $2.04 billion in less than a month.Since the month started, LTC has seen a rally in whale transactions above $100,000.
For whale transactions above $1 million, since the daily high of 616 transactions on 12 September, this metric has been on a decline.Interestingly, in the last 24 days, the percentage of LTC’s circulating supply held by whales fell to 42.76% from the 43.05% it started the month at.On 19 May, Litecoin deployed the MimbleWimble upgrade – a feature that allows users to make confidential transactions on the Litecoin Network.
The upgrade has, however, been trailed by a series of unfortunate events. A few weeks after its implementation, five cryptocurrency exchanges in South Korea, namely, Upbit, Bithumb, Coinone, Korbit, and Gopax, delisted LTC citing regulatory concerns with the upgrade.the withdrawal of its support for deposits and withdrawals of LTC coins that used the MimbleWimble function.
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