Despite the collapse of altcoin markets in 2019, the Litecoin network still saw massive usage which brought its yearly trading volume to over $100 billion. The amount is still lower from the yearly volume of 2018, although this is mostly due to the bull market that was still raging in January 2018. Before the bear market kicked in and the prices started to drop, each day brought over $5 billion in transactions. In the first half of 2019, daily transactions — on average — saw only $200m -$300m.
Litecoin is a peer-to-peer internet currency. The digital coin is a fully decentralized open source, global payment network which was developed with the aim to improve on Bitcoin’s shortcomings. It was first released on 7th October 2011 and has a supply limit of 84,000,000 LTC.