Forget Bitcoin Holders: Litecoin Investors Are The Real Diamond Hands According To This Metric

Litecoin’s price action in February has been somewhat positive.➖The average holding time is 2.4 years
➖More than 20% of Litecoin addresses have held their $LTC for more than 5 years
➖The average holding time of transacted coins is 1 month

— IntoTheBlock (@intotheblock) February 23, 2024

The crypto industry is known for blessing those who hold on to their digital assets for long. History shows that patient investors who hold for years, not months, often achieve the biggest returns. If an investor were to sell their LTC holdings today after keeping them untouched for five years, they would record a profit of almost 80%.

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While this is small compared to what other top digital assets like Bitcoin and Ethereum would generate, it demonstrates the potential for Litecoin to generate profits despite a wider decline from the all-time highs of many cryptocurrencies.

The average holding time of transacted LTC coins is one month, with a general average LTC holding time of 2.4 years. This puts Litecoin above other large market-cap cryptos like Ethereum and Dogecoin and only behind Bitcoin in terms of holding mentality. 

Total crypto market cap is currently at $1.926 trillion. Chart:

Current State Of Litecoin

Much has changed since Litecoin launched in 2011 with a maximum supply of 84 million LTC as a silver to Bitcoin’s gold. Recent market dynamics and the inflows into other cryptocurrencies which have developed a vast following and real-life utility have seen Litecoin falling in market cap rankings over the years.

Litecoin is now in the 21st position in terms of market cap, sitting behind meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), and layer-2 tokens like Polygon (MATIC) and Chainlink (LINK). 

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At the time of writing, Litecoin is trading at $69.90, up by 6.39% in the past 30 days. Notably, the crypto has traded below $80 for the past six months, but holders remain unfazed. Short-term traders come and go, but Litecoin’s dedicated investors are in it for the long haul. Their diamond hands and vision for the future suggest that Litecoin still has room to grow. 

Featured image from Pixabay, chart from TradingView

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Author: Scott Matherson

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