Litecoin tops HODL charts, but traders aren’t exactly happy – Reasons?
The post Litecoin tops HODL charts, but traders aren’t exactly happy – Reasons? appeared on BitcoinEthereumNews.com.
77.7% of Litecoin holders are long-term investors, outpacing Bitcoin and Ethereum’s numbers Despite strong HODLing, LTC’s 60-day MVRV was at -12.7% – Sign of poor short-term profitability Litecoin [LTC] may be enjoying a loyal investor base, but its short-term profitability paints a contrasting picture. Data from IntoTheBlock revealed that 77.7% of all LTC holders are long-term holders [LTH]. In fact, it has the highest percentage of LTH among top assets, including Bitcoin [BTC], Ethereum [ETH], and Shiba Inu [SHIB]. This is a sign of strong conviction in the altcoin’s long-term value. Worth pointing out, however, that recent metrics indicate that these holders may not yet be reaping any significant gains. A majority of LTC’s supply remains untouched With over three-quarters of its holders keeping their assets idle for over a year, Litecoin leads the pack in HODLer loyalty. Chainlink [LINK] and SHIB follow closely behind with 77.5% and 75.8%, respectively. While this points to confidence in LTC’s fundamentals, it also implies low active turnover. This can often suppress short-term demand pressure and limit bullish momentum on the charts. MVRV confirms Litecoin’s low momentum This long holding pattern becomes even more relevant when considered alongside the Market Value to Realized Value [MVRV] ratio. Source: Santiment Consider this – The 60-day MVRV for LTC had a reading of -12.7% at press time. This signaled that most holders who acquired Litecoin in the last two months are, on average, at a loss. Negative MVRV values often hint at undervaluation, but they can also indicate a broader market hesitance to buy into ongoing weakness. Price action highlights a struggle for recovery On the price charts, Litecoin was valued at $90.98 at the time of writing. The altcoin seemed to be attempting to reclaim ground lost over the last few weeks. Despite its latest uptick…
Filed under: News - @ March 22, 2025 10:27 pm