• Transactions on Litecoin increased across all levels, leaving Ethereum trailing
• ETH and LTC prices fell in the last 24 hours, but they might surpass major milestones soon

It is unusual to find Litecoin [LTC] surpassing Ethereum [ETH] at any level. However, on 6 June, the number of active addresses on Litecoin’s network jumped by a mind-blowing 75%.

According to data from IntoTheBlock, the difference was over 100,000 in favor of Litecoin. In total, the figure was 602,720 and represented the highest level of activity on the network since January.

After Cardano, Litecoin takes Ethereum out

For context, active addresses measure the number of unique wallets engaged in successful transactions on a blockchain. A few days ago, the coin had registered higher values than Cardano [ADA] on the same front.

However, it is important to mention that most of the transactions emanated from wallets with a small balance.

That being said, those holding LTC worth $10,000 to $10 million were not left out. According to IntoTheBlock’s latest post on X,

“While most of the increase is due to transactions smaller than $10, there is a noticeable rise in transactions of all sizes.”

Historically, as shown below, an extremely high reading of the metric causes a correction. However, at press time, the ratio was 0.00000003. This was a low reading, compared to periods when Litecoin has been overheated.

Are LTC and ETH at a discount?

Simply put, LTC may be trading at a discount. Should the market return to a highly bullish state, the price of LTC could move past $100 from its press time position.

To confirm this thesis, AMBCrypto examined the Market Value to Realized Value (MVRV) ratio. This metric track the profitability of holders in relation to coin valuation.

At press time, Litecoin’s 30-day MVRV ratio was 13.35%, indicating that the average holder would make profits if they sell. However, the gains might be high enough to trigger widespread profit-taking.

For Ethereum, the 30-day MVRV ratio was 4.69%. While this suggested that ETH and LTC may be in similar spots, it also addressed the notion that Litecoin holders might be in a better position than their Ethereum counterparts.