- In March LTC, which is a cryptocurrency, accounted for 39% of global payments. Bitcoin was at the second place with 25%.
- LTC’s growth stagnated over the past month, which led to a decrease in Open Interest.
Litecoin [LTC] In March, Bitcoin was the preferred cryptocurrency to make payments, beating out all other major assets. Bitcoin [BTC].
Litecoin wins streak continues
The world’s biggest crypto-payment service provider tracked the data BitPayLTC’s global share fell from 41% to 39%, in March.
Digital silver has maintained its top spot on the charts for the past three months in a row.
LTC recorded more transactions than BTC. Ethereum [ETH] The two most popular cryptocurrencies are combined.
HODLing also gains traction
While LTC became more popular as a form of payment, another group tried to get the most value out of them by holding on for longer.
According to IntoTheBlock (a firm that provides on-chain analysis), the number of long term holders of Litecoin has risen above 5,000,000. LTH was a term used to describe users of Litecoin who had held it for at least a year.
Interestingly the LTH group accounted for over 62% of all Litecoin address with a balanced, indicating a strong HODLing in the eco-system.
LTC price chart remains unfavorable
The low return on the initial purchase could explain the HODLing. According to the data, cryptocurrency is currently at $97. This is 76% less than its previous all-time (ATH) high of $412, which was in May 2021. CoinMarketCap.
LTC has been trading lower than early 2022. Holders are encouraged to wait until the price rises.
Is your portfolio green? Have you checked out your portfolio? LTC Profit Calculator
LTC moved in a sideways direction over the past few months, leaving little room for either traders or investors to profit.
AMBCrypto analyzed Coinglass’ data and found that the amount of money spent on speculative investments has fallen by almost 13%.
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Source: ambcrypto.com