The Litecoin (LTC) blockchain has witnessed a surge in network activity this month, with the number of unique addresses interacting with the network more than doubling from 345,000 in May to over 700,000.

This key metric comes as the network’s Relative Strength Index (RSI) has entered its best “Opportunity Zone” territory since September, according to data from on-chain analytics firm Santiment.

Litecoin saw an average of ~704k unique addresses interacting with the network last week, after an average of ~345k addresses throughout May. The network’s more than doubling of the number of active addresses and its RSI entering an opportunity zone could be a sign of a rally of $LTC . pic.twitter.com/7AJfY1tTSJ

- Santiment (@santimentfeed) June 11, 2024

Unique addresses interacting with a network indicates increased traffic on the network and increased user interest.

The official Litecoin account on microblogging platform X (formerly Twitter) also highlighted this recent increase in network activity, sharing a chart showing the number of active addresses on market intelligence platform IntoTheBlock and saying that Litecoin is "the most active blockchain in the world." world."

Interestingly, Litecoin's active addresses have even surpassed those of the top two cryptocurrencies by market cap, Bitcoin and Ethereum.

Litecoin is the most active blockchain in the world!!! We've surpassed #Bitcoin$BTC and #Ethereum$ETH in active addresses. More people are currently using Litecoin than any other cryptocurrency!

What's in your wallet? #Litecoin$LTC pic.twitter.com/3wxmjSRU1m

— Litecoin (@litecoin) June 10, 2024

Litecoin has historically ranked high in usage metrics due to its network's ability to facilitate cheap and fast transactions, and its ability to serve as a network that uses technology that is then implemented on the main bitcoin blockchain, often referred to as the silver to bitcoin's gold.