Litecoin (LTC)has been one of the best-performing big-cap tokens over the last several months, and its hashrate just hit a new all-time high, signaling some potential bullish activity on the network. 

After falling to a low of $40.60 back in July 2022, LTC has risen by more than 125% from its 2022 low, outperforming ETH and BTC over the same period. 

The calculated numerical value of the hashrate is generated by active Litecoin miners during a process known as proof-of-work, generated by miners who use their collective computing power to solve increasingly complex blockchain algorithms on the network. Essentially, the more digital picks and axes digging around, the higher the hashrate and the more participants actually using the network.