The Litecoin Network's new feature continues to grow each month since its first launch in May. There are now 16,887 litecoin pegged in and using the Litecoin MimbleWimble Extension Block (MWEB).
This is equivalent to over 1M dollars in value with Litecoins current price of $62.
Litecoin that is pegged into the extension block allows for confidential transactions where there are no public addresses and no public amounts. This keeps your financial balances and transactions private from the general public. This is also important as it allows for Litecoin to be fungible, whereas each litecoin can be interchanged and worth the same amount.
Money is a prime example of something fungible and it's important that Litecoin now has this characteristic. Unfortunately, Bitcoin doesn't have this feature and this is why more people are switching to using Litecoin each day.
Since May 2022 the amount of Litecoin has continued to increase.