Litecoin (LTC) is experiencing significant growth in its network as the upcoming halving event approaches, with expectations that it will push the price of Litecoin to new highs.

The adoption of Litecoin has been increasing as the number of addresses holding a balance has skyrocketed to almost 8.5 million, according to market intelligence platform InTheBlock. This growth has strengthened the bullish sentiment in the market towards Litecoin.

The highly anticipated halving event is expected to take place in August, with some key players predicting that Litecoin will surpass the $100 price level.