Interest in Litecoin mining is growing significantly

Over the past 30 days, the amount of capacity engaged in mining Litecoin has increased, as well as the amount of commissions.
According to the Litecoin ecosystem (LTC), the cryptocurrency’s hash rate has increased, reaching 535.6 Th/s, and the total amount of transaction fees has also increased. At the end of June, LTC’s hash rate was at only 355.37 Th/s.
LTC mining is in the green zone in terms of profitability, and currently yields an average profit of $29.16 per month at an LTC price of $58.13, according to CryptoCompare. The bitcoin mining difficulty index reached a new all-time high by the beginning of this week, being at the value of almost 18 million hashes (17.99).
Such dynamics is observed against the background of the fact that over the last month there has been a decrease in transaction activity in the LTC blockchain. Moreover, Litecoin was discussed in social media last week by 64.3% less than in the beginning of November, the same as the reaction of social media users to the posts about LTC (likes and reposts) decreased by 56.7%. At the same time, there are fluctuations of interest in the cryptocurrency over a longer period of time, that is, we cannot say that we are talking about a steady decline of interest in it.
Curiously, against this background, Litecoin capitalization tends to grow, and LTC’s share of the cryptocurrency market reached a notable 0.47% for altcoins. The cryptocurrency’s absolute high ($410.26) was fixed on May 10 last year. Compared to it, the price of LTC decreased by 85.8%.

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