Litecoin has shown remarkable stability, with a significant portion of its total supply being held long-term.
Currently, 53.9% of all Litecoin ever mined has been held without moving for more than a year, and 85.8% of the total supply has remained untouched for over a month. The average holding period per LTC is a notable 2.4 years, reflecting a committed investor base.
Litecoin is the world's digital silver! 🩶🥈
53.9% of all Litecoin ever mined has been held w/o moving for >1 yr.
85.8% of all Litecoin ever mined has been held w/o moving for >1 month.
The average hold time is also 2.4 years per LTC.*Stats provided by our pals over at… pic.twitter.com/B4uqcl8fvB
— Litecoin (@litecoin) December 22, 2024
This long-term holding trend has caught the attention of analysts, with Bloomberg noting that Litecoin could be a frontrunner in the race for an ETF approval.
Unlike many other cryptocurrencies, the SEC has not classified Litecoin as a security, which could simplify the approval process for a Litecoin ETF compared to other digital assets. Such a development would be a significant milestone for the cryptocurrency, further legitimizing its position in the financial ecosystem.
Bloomberg analyst have noted that a #Litecoin ETF could be approved ahead of other cryptocurrency ETFs, with the SEC not classifying #Litecoin as a security, which will definitely impact the approval process.#Litecoin #LTC $LTC pic.twitter.com/9rAt9GJUte
— Mike (@CauseWereCrypto) December 22, 2024
In terms of transactional volume, Litecoin is performing on par with Ethereum. While Ethereum’s market cap sits at $408 billion, Litecoin’s market cap is much smaller at $7 billion. However, Litecoin’s ability to handle a comparable dollar transactional value to Ethereum showcases its growing importance and use case within the crypto space.
#Litecoin now handles about the same dollar transactional value as #Ethereum#ETH market cap: $408 billion#LTC market cap: $7 billion$LTC is the easy decision pic.twitter.com/MAqrhkctH3
— Mike (@CauseWereCrypto) December 23, 2024
The potential approval of a Litecoin ETF, combined with its impressive transaction volume and long-term holding patterns, signals a promising future for the asset. As institutional interest in cryptocurrencies continues to rise, Litecoin’s established network and regulatory clarity could make it an attractive option for both retail and institutional investors looking for exposure to the digital asset market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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