Litecoin (LTC) Achieves Historic Milestone With Millions of Holders

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 impressive achievement for Litecoin: Over 5 million wallets have held onto $LTC for the long term. This accounts for approximately 62.5% of all active Litecoin addresses.— IntoTheBlock (@intotheblock) April 12, 2024

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.

Litecoin (LTC) Achieves Historic Milestone With Millions of Holders

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