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Why Only 15% of LTC Holders Are Profitable

Litecoin is on our list of the best altcoins to buy in 2022.

As of this writing, Litecoin (LTC) is trading at $52.43, down about 1.1% over the past 7 days and down 2.5% over the past 24 hours.

At first glance, LTC is in the same boat as Ethereum, the second largest cryptocurrency in the world by market capitalization.

But when you consider the profitable percentage of its owners, you see a big disparity.

Litecoin holders in tough times, profit-wise

Online data provider TipRanks revealed on Sept. 25 that only 15% of all Litecoin holders are profitable, 12% are holding their own, and 74% are suffering huge losses. Did. This was before altcoins broke below $53.

By comparison, Ethereum outperforms its fellow digital coins. The data shows that 51% of his holders are making profits and 46% are losing money. The remaining 3% of him is break even.

With Ethereum driving a bullish streak following initiatives to improve its network, the huge difference between the percentages of owners of the two altcoins benefiting isn’t all that surprising.

Litecoin, on the other hand, had to deal with a momentum-killing loss.

Network stagnation causing LTC degradation

Litecoin’s network has little to no activity, which is one reason why it can’t keep up with the likes of Ethereum.

In a stagnant state, Litecoin is forced into a bearish outlook along with much of the cryptocurrency market.

Over the past few weeks, the crypto space has continued to bleed, and that trend continues to this day.

Ethereum, on the other hand, has been the subject of excitement in the crypto community despite showing some struggles to maintain its $1,500 trading price. Recently, the space has moved to a Proof of Stake (PoS) mechanism using what it calls “The Merge”.

The historic event didn’t deliver the rally expected of all altcoin kings, but it did give holders and investors something to look forward to.

LTC total market cap at $3.7 billion on the daily chart | Source: TradingView.com

Featured image from Cryptotelegram, chart from TradingView.com

Why Only 15% of LTC Holders Are Profitable

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