Dogecoin

Litecoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Litecoin (LTC) has witnessed superior on-chain activity compared to other prominent coins, such as Dogecoin (DOGE). Per <a href="https://x.com/intotheblock/status/1811675243783614555" rel="noopener noreferrer nofollow">data</a> from IntoTheBlock, LTC processes an impressive $2.85 billion in transactions over $100,000 daily. Notably, it averages more than 50% of its market cap.
This crucial figure surpasses the transaction volume of major layer-1 blockchains. It shows the massive whale activity on the Litecoin network. Moreover, Litecoin’s daily transaction volume in high-value transactions truly stands out in the crypto ecosystem.
The $2.85 billion processed daily in transactions is showing a robust level of activity among large holders, or whales. It highlights that&nbsp;<a href="https://u.today/justin-sun-buys-5-million-in-ethereum-eth-price-rally-coming" rel="noopener noreferrer nofollow">institutional investors</a> or high-net-worth traders have a strong presence in the Litecoin network. They seem to be using it for major transfers. This also shows that these whales are confident in LTC’s long-term outlook.
<h2 dir="ltr" id="ltc-surpasses-doge">LTC surpasses DOGE</h2>
Dogecoin has a&nbsp; higher market capitalization compared to Litecoin. It is almost three times that of Litecoin. Despite this, the meme coin has a significantly lower volume of large transactions. DOGE has almost $590 million in transactions over $100,000 daily.
This huge difference indicated that while Dogecoin has a huge market cap, its on-chain activity, particularly in large transactions, is comparatively modest. It further highlights the unique use cases and community engagement each coin attracts.&nbsp;<a href="https://u.today/dogecoin-doge-skyrockets-868-in-bullish-whale-activity" rel="noopener noreferrer nofollow">DOGE</a>, as a leading meme coin, has grown into a popular coin on the market.
It has a notable following, often driven by social media trends and celebrity endorsements. However, IntoTheBlock data shows that Dogecoin’s utility in major transactions is limited compared to Litecoin.
In addition, the rising whale activity of LTC may have several impacts. History suggests that crypto whales can influence market dynamics, owing to the size of their holdings. Their active participation in the Litecoin market shows their growing confidence in its stability, security and potential for future growth.

Litecoin (LTC) Outperforms Dogecoin (DOGE) in On-chain Activity

Mục lục

U_Today

Các bài viết khác được xuất bản trên 12 thg 7, 2024

Cardano Prediction: Can ADA Smash Through the $0.40 Barrier?

ESMA Reiterates MiCA Crypto Staking Laws Amid Controversy

Bitcoin risks 30% loss against XRP if ‘triple bottom’ confirms

Solana’s BONK Overtakes WIF After 12% Surge: Market Cap Battle Unfolds

Coinbase Analysts Shared Their Short and Medium Term Expectations for Bitcoin and Ethereum!

Ethereum HODLers lock 6400 ETH in Beacon Chain – Why it’s important

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