In a recent tweet, data analytics firm Intotheblock highlighted the intriguing resilience of active addresses across prominent figures in the market, notably, Litecoin and Dogecoin, amidst the backdrop of intricate market conditions. Their’s observation sheds light on the sustained engagement within the cryptocurrency space.
Among these assets, both Litecoin ($LTC) and Dogecoin ($DOGE) have notably experienced significant spikes in their recent activity metrics. It suggests a heightened level of interest and participation within the respective ecosystems of these cryptocurrencies.
To provide a more concrete perspective on the matter, the data presented in the tweet showcases the figures for daily active addresses over the last 30 days. For Litecoin, the number of daily active addresses has averaged an impressive 231.27k, indicating a consistent level of user engagement. Similarly, Dogecoin’s figures reveal an active address count of approximately 46.08k, further emphasizing these digital assets’ enduring interest.
These observations underscore certain blockchain networks’ resilience and ongoing vitality, even in the face of the cryptocurrency markets’ intricate and often unpredictable nature. The sustained level of activity within these ecosystems could potentially signal the presence of enduring interest and engagement among users and investors alike.
Binance Delists Litecoin & DOGE Perpetual Contracts
Meanwhile, Binance, one of the world’s leading crypto exchanges, has recently disclosed its decision to delist trading pairs involving Litecoin and Dogecoin. The affected pairs encompass perpetual futures tied to Binance’s native stablecoin, Binance USD (BUSD). Removing these pairs from the exchange’s offerings is scheduled for August 24.
Furthermore, on August 17, 2023, at 12:30 (UTC), Binance Futures plans to adjust the leverage and margin tiers for USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts. This modification will impact existing positions that were opened before the update. Traders are strongly advised to make changes to their positions and leverage settings beforehand in order to avoid possible liquidation.
In order to protect users and minimize risks in highly volatile market scenarios, Binance Futures may implement additional safety measures for the USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts. These measures could include making adjustments to leverage, position value, maintenance margin, funding rates, and price index constituents.
Additionally, they may utilize the Last Price Protected mechanism for Mark Price updates. All of these potential actions have the objective of ensuring user safety and maintaining market stability.