At the end of the 2022 trading year, over 39 million transactions were carried out on the decentralized, open-source LTC network, according to a Litecoin tweet.
The Litecoin Network completed over 39 million transactions in 2022. A new record!
— Litecoin (@litecoin) December 31, 2022
⚡$LTC⚡ pic.twitter.com/DXbnuur2tI
In addition to an increase in the amount of network transactions, as of 2022, Litecoin had 52 million distinct addresses.
The Litecoin Foundation also wrote a blog article with a summary of 2022. According to the non-profit organization created to promote Litecoin, there were the "second most addresses of any cryptocurrency" in 2022.
Furthermore, during the course of the year, Litecoin's hashrate grew to a new record high of 613.81TH/s. Additionally, on December 3rd, the network's average difficulty surpassed its previous high after 11 years of operation.
Having said that, statistics from Coin Aquarium show that LTC's value decreased by 54% as a result of the severe market downturn over the past year.
For comparison's sake, the altcoin's per-unit cost at the beginning of 2022 was $151. As the bear market grew worse in June, it traded for as little as $43. Before progressively gaining momentum and closing the trading year at $68 it fell to its lowest point of the year.
According to on-chain statistics, big LTC whale addresses gradually relinquished their tokens over the course of a year, and growth generally declined in 2022.
When Terra-Luna collapsed on May 24 and 25, the number of LTC whale addresses—those with 10,000 to 1,000,000 LTC in their possession—dramatically decreased by 6%.
The count momentarily rose at the beginning of June, but it swiftly fell as bullish conviction gradually waned in the market in the second half of the year. According to Santiment data, there were 6% fewer LTC holders in this group between January and December 2022.
