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NewsBTC 2022-09-26 07:35:19

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

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 Lit...

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