As a seasoned researcher in the cryptocurrency industry, I have closely monitored the developments and trends within the space for several years. The recent data released by Santiment regarding the number of holders for various alternative coins has piqued my interest. According to their findings, Litecoin (LTC) leads with almost 8.10 million non-empty wallets, followed closely by Dogecoin (DOGE) with 6.69 million.
TL;DR
- Litecoin (LTC) leads in non-empty wallets with over 8 million, followed by Dogecoin (DOGE) with 6.69 million.
Ripple (XRP) and Shiba Inu (SHIB) holders have also been on the rise, recently reaching all-time high numbers.
Here is the Ranking
“Santiment, a cryptocurrency analysis platform, identified the six coins with the greatest number of users on their individual networks at present.”
Among all the cryptocurrencies, Litecoin (LTC) has the highest number of active wallets, approximately 8.1 million, followed closely by Dogecoin (DOGE) with around 6.7 million wallets. The list also includes Ripple’s XRP, Cardano‘s ADA, Shiba Inu (SHIB), and Chainlink (LINK), each having a significant presence in the crypto community.
Although leading the pack, Litecoin has experienced a setback as the number of non-empty LTC wallets was approximately 9.4 million several months ago. In contrast, XRP and SHIB holders have reached record highs. According to CryptoPotato’s reporting, the XRP wallet count surpassed the 5 million mark at the beginning of the year and has continued to grow steadily since then.
Shiba Inu may have a smaller number of holders than its main competitor, Dogecoin. However, one research organization found that Shiba Inu boasts a highly engaged and dedicated community. The study evaluated social media interactions such as likes, retweets, and SHIB-related posts, with the findings unveiled towards the end of last year.
As an analyst, I’d rephrase it as follows: Among the mentioned cryptocurrencies, DOGE came in second place. PEPE, FLOKI, and BONK followed closely behind in third, fourth, and fifth positions, respectively.
Litecoin’s Longevity
The cryptocurrency’s aforementioned achievement could be explained by the fact that it saw the light of day over a decade ago. It was created by Charlie Lee and released in October 2011 to provide an alternative to Bitcoin with faster transactions. Litecoin has a block time of approximately 2.5 minutes compared to BTC’s 10 minutes.
Based on my extensive experience in the world of cryptocurrencies and high-performance systems, I can confidently say that this alternative coin stands out with its impressive capability to process up to 50 transactions per second. In contrast, my personal observation shows that the primary cryptocurrency can only manage a meager seven transactions within the same timeframe. This difference in transaction speed is not insignificant and could greatly impact users’ experience, particularly those who rely heavily on quick and efficient transactions.
Just like Bitcoin, Litecoin uses a halving process to decrease the production of new tokens by half. This event takes place roughly every four years or every 840,000 blocks. The most recent occurrence was last August when miners saw their rewards reduced from 12.5 Litecoins (LTC) to 6.25 LTC.
Based on my extensive experience in the cryptocurrency market and observing price trends over the years, I strongly believe that a halving event is often a significant indicator of an upcoming price uptrend. This concept isn’t new to me, as I recall vividly how Litecoin (LTC) surged to nearly $110 in value during March this year. However, after this impressive spike, the market took a turn, and LTC retreated, leaving it currently valued around $68, according to CoinGecko’s data. Despite this recent setback, I remain optimistic about the long-term potential of Litecoin following its halving event in August 2019.
Read More
- CKB PREDICTION. CKB cryptocurrency
- EUR INR PREDICTION
- PENDLE PREDICTION. PENDLE cryptocurrency
- PBX PREDICTION. PBX cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
- USD DKK PREDICTION
- USD VND PREDICTION
- GEAR PREDICTION. GEAR cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
- CSIX PREDICTION. CSIX cryptocurrency
2024-07-27 14:11