Litecoin Price Watch: Why Only 15% of LTC Holders Are Making Profit

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	12,964,179,212	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

12,964,179,212

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.00000100	-4.35%	0.000022	0.000022	0.000022

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.00000100

-4.35%

0.000022

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000023	0.000022	0.000023	0.000023	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000023

0.000022

0.000023

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:30:34	10,139,295.00	0.000022	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:30:34

10,139,295.00

0.000022

USD

Price x Volume	Volume	Base Symbol	Related Pairs
3,587,769.65	160,479,891,091.86	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

3,587,769.65

160,479,891,091.86

Litecoin Price Watch: Why Only 15% of LTC Holders Are Making Profit

26/09/2022 8:35am

NEWSBTC

Litecoin has made it to the list of the best altcoins to buy in 2022. But for the past 24 hours, the crypto has fallen prey to the volatility that is currently wrecking havoc in crypto space. As of this writing, Litecoin (LTC) is trading at $52.43, down nearly 1.1 percent in the last seven days, and losing 2.5 percent in the last 24 hours, data from Coingecko show, Monday. At a glance, it can easily be said that LTC is on the same boat. But when taking into consideration the percentage of its holders that are making profit, a great disparity can be seen. Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why Litecoin Holders In Tough Spot, Profit-Wise TipRanks, an online data provider, revealed on September 25 that only 15% of the total holders of Litecoin are making profit and 12% are on status quo, leaving 74% dealing with tremendous losses. This was before the altcoin started to hit below the $53 mark. In comparison, Ethereum is doing better than its fellow digital coin. Data shows 51% of its holders are in profit while 46% incurred losses. The remaining 3% are breaking even. The huge difference between the percentages of holders of the two altcoins enjoying profit is not much of a surprise as Ethereum is pushing for a bullish streak following the initiatives to improve its network. Litecoin, on the other hand, was left to deal with momentum-derailing losses. Network’s Stagnant State Causing LTC Decline Litecoin’s network has little to no activity at all and that is one of the reasons why it is failing to catch up with the likes of Ethereum. With its stagnant state, Litecoin is forced into a bearish outlook along with the majority of the cryptocurrency market. Over the past weeks, the crypto space continued to bleed and that trend is still continuing up to this date. Ethereum, meanwhile, despite showing some struggle to maintain trading price of $1,500, is the subject of excitement of the crypto community as it recently transitioned into proof-of-stake (PoS) mechanism with what the space is calling “The Merge.” While the historic event failed to deliver the rally that was expected of the king of all altcoins, it gave holders and investors something to look forward to. Related Reading: Shiba Inu Adds Nearly 36,000 Holders Since June Despite Crypto Market Turmoil LTC total market cap at $3.7 billion on the daily chart | Source: TradingView.com Featured image from Cryptotelegram, chart from TradingView.com

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