Litecoin has faced a notable price drop, yet long-term investors continue holding their assets while the network's hashrate rises.
Current Litecoin Price Situation
As of press time, Litecoin was trading at $91.69, with a 16.97% drop in the past 24 hours and 24.28% over the past week. The market capitalization stands at $6.89 billion with a circulating supply of 75 million LTC. The 24-hour trading volume reached $1.95 billion.
Long-Term Holders’ Activity Analysis
Data from IntoTheBlock indicates that 78% of Litecoin addresses have held the cryptocurrency for over a year. Historically, long-term investors accumulate during bear markets and sell at peaks. In the current cycle, long-term holdings remain stable, reflecting confidence in a potential LTC recovery.
Rising Litecoin Hashrate
On December 18, 2024, the Litecoin network reached a record hashrate of 1.64k TH/s. The average hashrate over the past 30 days was 1.53k TH/s, with peaks reaching 1.77k TH/s. Increased hashrate indicates growing interest from miners and equipment upgrades.
Despite price declines, the retention of LTC by long-term holders and increased hashrate signal positive expectations. Grayscale Investments' accumulation further underscores continued confidence in Litecoin.
