Rising on-chain activity shows whales' confidence in Litecoin
from IntoTheBlock, LTC processes an impressive $2.85 billion in transactions over $100,000 daily. Notably, it averages more than 50% of its market cap.This crucial figure surpasses the transaction volume of major layer-1 blockchains. It shows the massive whale activity on the Litecoin network. Moreover, Litecoin’s daily transaction volume in high-value transactions truly stands out in the crypto ecosystem.
The $2.85 billion processed daily in transactions is showing a robust level of activity among large holders, or whales. It highlights that or high-net-worth traders have a strong presence in the Litecoin network. They seem to be using it for major transfers. This also shows that these whales are confident in LTC’s long-term outlook.Dogecoin has a higher market capitalization compared to Litecoin. It is almost three times that of Litecoin.
This huge difference indicated that while Dogecoin has a huge market cap, its on-chain activity, particularly in large transactions, is comparatively modest. It further highlights the unique use cases and community engagement each coin attracts. It has a notable following, often driven by social media trends and celebrity endorsements. However, IntoTheBlock data shows that Dogecoin’s utility in major transactions is limited compared to Litecoin.
In addition, the rising whale activity of LTC may have several impacts. History suggests that crypto whales can influence market dynamics, owing to the size of their holdings. Their active participation in the Litecoin market shows their growing confidence in its stability, security and potential for future growth.
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