Shift

Litecoin

World

Recently, reports from IntoTheBlock <a href="https://twitter.com/intotheblock/status/1778713110355788129?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">revealed</a> that the Litecoin (LTC) network has exceeded five million long-term holders. This achievement represents approximately 62.5% of all LTC addresses with a balance, underscoring Litecoin’s widespread adoption and long-term viability within the <a href="https://www.newsbtc.com/news/litecoin-soars-above-110-as-ltc-breaks-out-of-macro-downtrend-analysts/" target="_blank" rel="noopener ">crypto community</a>. 
<h2 id="rising-long-term-holder-trend-signals-optimism">Rising Long-Term Holder Trend Signals Optimism&nbsp;</h2> 
The surge in long-term holders has been particularly noticeable in recent months, underscoring a growing inclination towards holding LTC for quite a long time. In February’s closing days alone, the number of long-term holders soared by 170,000, signaling robust investor confidence in Litecoin’s <a href="https://www.newsbtc.com/news/litecoin-soars-past-105-is-ltc-set-for-epic-rally-this-april/" target="_blank" rel="noopener ">long-term prospects</a>. 
In tandem with this surge in long-term holders, the number of individuals holding LTC for more than a year has steadily risen, now totaling 2.54 million addresses. Apart from the <a href="https://www.newsbtc.com/all/from-90-to-400-litecoin-analysts-bullish-on-ltc-soaring-trajectory/" target="_blank" rel="noopener ">numerical growth</a>, the profitability of holding LTC over the long term adds another dimension of interest. 
<blockquote class="twitter-tweet"> 
 Amazing milestone for Litecoin! 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f48e.png" alt="💎" class="wp-smiley" style="height: 1em; max-height: 1em;">The network now counts over 5 million long-term holders of <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$LTC</a>. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;">This figure represents 62.5% of all Litecoin addresses with a balance. <a href="https://t.co/K5FHz3Ivjs" target="_blank" rel="noopener nofollow">pic.twitter.com/K5FHz3Ivjs</a> 
 — IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1778713110355788129?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">April 12, 2024</a>
</blockquote> 
According to on-chain data, roughly 67.67% of all LTC addresses currently stand in profit, collectively holding 49.76 million LTC. In contrast, approximately 26.8% of LTC holders, totaling 2.15 million addresses, are currently at a loss. 
Meanwhile, a smaller segment, constituting 5.53% of holders, is situated at breakeven, which means they are neither in a loss nor a profit. 
<img loading="lazy" decoding="async" class="wp-image-602984 size-large" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Screenshot-2024-04-12-at-16.05.29.png?w=860&amp;resize=860%2C250" alt="Addresses currently holding in Litecoin (LTC). " width="860" height="250" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Screenshot-2024-04-12-at-16.05.29.png?w=2734 2734w, https://www.newsbtc.com/wp-content/uploads/2024/04/Screenshot-2024-04-12-at-16.05.29.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Screenshot-2024-04-12-at-16.05.29.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Screenshot-2024-04-12-at-16.05.29.png?w=860&amp;resize=860%2C250 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Screenshot-2024-04-12-at-16.05.29.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Screenshot-2024-04-12-at-16.05.29.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/04/Screenshot-2024-04-12-at-16.05.29.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Screenshot-2024-04-12-at-16.05.29.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
<h2 id="bullish-sentiment-surrounds-litecoin-amidst-rumors-of-etf-approval">Bullish Sentiment Surrounds Litecoin Amidst Rumors of ETF Approval</h2> 
So far,&nbsp;Litecoin has seen relatively stable movement, experiencing a minor increase of 0.3% over the past week, followed by a slight downturn of 0.1% in the last 24 hours. As of the current writing, LTC is trading at $96.72. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/wAjMrbwA/" alt="Litecoin (LTC) price chart on TradingView" width="2770" height="1496"> 
Despite the altcoin’s current stability in price, analysts such as World of Charts <a href="https://x.com/WorldOfCharts1/status/1772543150118031667" target="_blank" rel="noopener nofollow">anticipate</a> a potential surge in the coming months, with projections suggesting a climb to $400. This bullish momentum is fuelled by growing institutional interest, particularly surrounding <a href="https://www.newsbtc.com/news/litecoin/litecoin-etf-rumors-fuel-10-surge/" target="_blank" rel="noopener ">rumors of a potential LTC Exchange-Traded Fund (ETF)</a>. 
Fox Business journalist Eleanor Terrett has hinted at institutional intrigue towards a Litecoin ETF, citing LTC’s functional similarities to Bitcoin as a potential factor in its approval by the US Securities and Exchange Commission (SEC). 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">SCOOP (with fixed ticker) <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f642.png" alt="🙂" class="wp-smiley" style="height: 1em; max-height: 1em;">: Hearing rumblings on the institutional level about possible interest in a Litecoin ETF. The logic is that because of <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$LTC</a> functional similarities to <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$BTC</a>, the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@SECGov</a> may be more inclined to approve it, possibly even more so than <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$ETH</a>. 
 Last week,… <a href="https://t.co/nsrhE87OLm" target="_blank" rel="noopener nofollow">https://t.co/nsrhE87OLm</a> 
 — Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1772698347515556030?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">March 26, 2024</a>
</blockquote> 
Additionally, Coinbase Derivatives’ recent launch of futures contracts for Litecoin further contributes to the buzz surrounding the <a href="https://www.newsbtc.com/analysis/ltc/litecoin-price-prediction-ltc-rally-120/" target="_blank" rel="noopener ">cryptocurrency</a>. 
Renowned crypto analyst Luke Martin echoes this sentiment, <a href="https://x.com/VentureCoinist/status/1770624938413580375" target="_blank" rel="noopener nofollow">suggesting</a> that the approval of an Ethereum ETF could pave the way for other “old altcoins” like Litecoin to gain regulatory approval. Martin emphasizes that LTC and Dogecoin may have a stronger case for not being classified as securities, particularly in comparison to Ethereum. 
Featured image from Unsplash, Chart from TradingView

Litecoin (LTC) Breaks Records: 5 Million Long-Term Holders Signal Major Market Shift

Mục lục

NewsBTC

Các bài viết khác được xuất bản trên 12 thg 4, 2024

United States government ranks among the largest Bitcoin holders

Serenity Shield Price Prediction: SERSH Soars 20% As This Green AI Presale Soars To Within A Whis...

BitOasis Back in Business: Resuming Operations After Meeting Regulatory Requirements

Blockchain and AI: Redefining authorship in publishing

Upcoming Bybit listings

Experts hype the altcoin saga with Internet Computer (ICP), Polygon (MATIC), and Algotech (ALGT) ...

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!