According to IntoTheBlock’s report, Litecoin (LTC) has made history by surpassing five million long-term holders. Approximately 62.5% of all LTC wallets with a balance belong to this category. This development signifies a substantial moment for the cryptocurrency, showcasing its extensive usage and lasting potential.
In the past few months, there has been a significant increase in the number of investors holding Litecoin (LTC) for long periods. This trend became evident in late February when the figure rose by approximately 170,000 within just over a week. Furthermore, there are currently around 2.54 million addresses that have held LTC for between one and twelve months, with this number continuing to grow steadily.
An intriguing factor to consider beyond these figures is the long-term profitability of LTC investment. According to on-chain analysis, approximately two-thirds (67.67%) of all Litecoin addresses currently have a profitable balance. These addresses, numbering 5.43 million, collectively hold around 49.76 million LTC.
In contrast, approximately 26.8% of LTC owners experienced a loss, representing over 2.15 million wallets with a total balance of 20.6 million Litecoins. A smaller proportion, amounting to 5.53%, are barely breaking even.
The rise of Litecoin traces back to its inception in 2011 by Charlie Lee, a former Google engineer. Lee created LTC as a “lite” version of Bitcoin, aiming to improve upon some of Bitcoin‘s perceived limitations, such as transaction speed and scalability. With its faster block generation time and a different hashing algorithm (Scrypt), Litecoin quickly gained traction as a viable alternative to Bitcoin.
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2024-04-12 16:33