Miami, FL – When comparing Cardano (ADA) and Litecoin (LTC), one can see a stark difference in network activity despite ADA’s higher market capitalization. Recent data from IntoTheBlock revealed that the number of active addresses on Litecoin was significantly higher than on Cardano, with 357,260 and 28,630 respectively.
Active addresses in a blockchain reflect the number of unique wallets involved in successful transactions, indicating the level of network activity. In this case, the active addresses on Litecoin were 12 times that of Cardano, hinting at a potential rise in price for the cryptocurrency.
At current prices, LTC was trading at $84.52 with a 1.53% increase in the last 24 hours, while ADA was at $0.45, showing a sideways movement. Analysis by AMBCrypto suggested that market participants were paying more attention to Litecoin over ADA, despite no major recent developments favoring LTC.
However, the comparison doesn’t end with active addresses. Development activity is another key metric to consider. While Cardano consistently thrived in this aspect, recent data from Santiment indicated a decrease in development activity for the project, raising concerns about its network health.
Meanwhile, Litecoin’s development activity was significantly lower compared to Cardano, with minimal presence in public GitHub repositories dedicated to the project. This disparity in development activity may not directly impact prices, but it does shed light on the differences between the two cryptocurrencies.
When assessing the MVRV ratio, which measures profitability and valuation, Cardano showed a negative 30-day ratio, indicating that many ADA holders were facing unrealized losses. In contrast, Litecoin boasted a positive ratio, suggesting that the average LTC holder was in profit within the same timeframe.
Both cryptocurrencies, according to the data, could be considered undervalued. In a highly bullish market scenario, ADA could potentially reach $0.79, while Litecoin might aim for $95.37. The contrasting performance of the two cryptocurrencies raises questions about their potential growth trajectories and investor sentiment going forward.