40 million Litecoin have not moved in a year
Litecoin receives more attention early 2020 because the asset is either an Altcoin rally or a further appreciation of Bitcoin (BTC ) could signal. The token gains traction after LTC jumped over the 50 dollar mark again is.
In addition to the price promotions, a significant part has not moved for a year. The Litecoin network goes through a smaller number of transactions, but there are many whales and “hodlers” waiting for better times .
Recent research has shown that of the 63 millions of LTCs in circulation , about 40 millions have been dormant for over a year. Researchers have tracked some of the coins up to exchanges, but others may be among the first investors or early miners to buy Litecoin in recent years.
“Even taking this into account, the main conclusion that can be drawn from this data is that there are a significant number of coins that are now of strong Hands and long-term bulls that have accumulated, eliminating the potential downward pressure on the markets, ”commented Franklyn Richards of Litecoin.com.
Is Litecoin preparing for a new rally?
LTC is now going a new way after a steep correction of over $ 140. The recent halving of LTC brought significant price gains in the months before the event, but later the price crashed.
However, the coin is highly liquid, with a daily volume of more than $ 4.0 billion. This asset is present on most major exchanges. Litecoin is considered a reliable token with potential for significant appreciation in bull rallies.
But recent hopes are that LTC could signal a new BTC rally as the two assets have shown good correlation in the past.
# ltc 4 hour pic.twitter.com/UoLDol61 ln
– crypto mehmet (@cryptomehmet_) 11 , January 2020
The asset is particularly popular with Asian traders and can probably promise a run after many months of relatively low activity.
Text proof: bitcoinist