The network activity of Litecoin (LTC) has experienced a substantial uptick, hinting at a possible surge in its price. Recent statistics from Santiment illustrate that over the past week, Litecoin has witnessed an average of about 704,000 unique addresses actively engaging on its network, a notable surge when compared to the 345,000 addresses seen throughout May. The doubling of active addresses signifies an escalating interest and usage of this well-known cryptocurrency.

Historically, network expansion within the cryptocurrency market often precedes price escalations. A higher number of active addresses implies more transactions and overall usage, which can drive up demand and subsequently increase prices. Moreover, a heightened count of active addresses usually reflects positive investor sentiment and a keen interest in the cryptocurrency.

Litecoin, often described as the 'silver' to Bitcoin's 'gold,' was founded by Charlie Lee in 2011 as a peer-to-peer digital asset. While sharing foundational principles with Bitcoin, LTC differentiates itself with faster transaction speeds and a unique hashing algorithm, making it a more practical choice for smaller transactions and daily transactions.

The current Relative Strength Index (RSI) of Litecoin positions it favorably for potential gains. The RSI is a momentum indicator gauging the speed and extent of price movements. A high RSI within the opportunity zone suggests that Litecoin is currently undervalued, hinting at a possible price increase. Trading at $79.03 per LTC, Litecoin has observed an 8.5% rise since the start of the year, although it continues to trail behind Bitcoin and Ethereum in terms of price performance.