Litecoin ‘beats’ Bitcoin – Here’s what it means for its $100 price target

That being said, the digital silver has consistently ranked at the top of the charts, and March marked its third straight month of domination in 2024.While LTC was gaining significance as a mode of payment, a different user cohort was trying to extract value by HODLing them for longer periods.

According to on-chain analytics firm IntoTheBlock, the number of long-term holders of Litecoin surged above 5 million. The LTH here were users who have been in possession of the coin for a minimum period of 1 year. Interestingly, the LTH cohort constituted more than 62% of all Litecoin addresses with a balance, suggesting a strong HODLing trend in the ecosystem.Well, one of the factors behind the long periods of HODLing could be low returns from the coin since initial acquisition. The cryptocurrency was currently trading at $97, 76% lower than its all-time high of $412 in May 2021, according to

In fact, LTC was trading cheaper than it had been in early 2022, encouraging holders to wait till the price recovers.As a result, the money invested in speculative market dropped nearly 13% since the start of the month, according to AMBCrypto’s analysis of Coinglass’ data.Aniket Verma works as a journalist at AMBCrypto.

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