Litecoin Long-Term Holders Reach a Record
Recent data from the market intelligence platform IntoTheBlock reveals that the Litecoin network has surpassed five million long-term holders, marking a new milestone for the cryptocurrency.
Understanding Long-Term Holders
Long-term holders (LTHs) are investors who have held their coins for over a year without making any transactions. These holders are known for their strong resolve and are less likely to sell their coins, even in volatile market conditions.
- By holding onto their coins for extended periods, LTHs demonstrate a commitment to their investments.
- LTHs are contrasted with short-term holders (STHs) who are more likely to sell during market fluctuations.
Behavior of Long-Term Holders
Historically, long-term holders exhibit minimal selling activity, regardless of market movements, indicating a strong belief in the cryptocurrency’s long-term potential. This behavior contrasts with short-term holders who are more reactive to short-term price fluctuations.
Growth of LTC Long-Term Addresses
Tracking the number of addresses that qualify as long-term holders provides insights into the behavior of this investor group. The chart shared by IntoTheBlock illustrates the growth in Litecoin long-term addresses over the past year.
- Litecoin’s long-term addresses have seen a significant increase, surpassing five million addresses.
- Approximately 62.5% of all LTC wallet addresses now belong to long-term holders, indicating a strong commitment to holding the cryptocurrency.
Implications for Price
While an increase in long-term addresses does not necessarily indicate new purchases, it suggests that investors who acquired Litecoin a year ago have now qualified as long-term holders. This delayed metric reflects the commitment of holders to retain their investments.
Current LTC Price
Litecoin’s price has been ranging around $95 in recent trading sessions, showing stability in its price movement.
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