Litecoin Holders See Profits Surge as Over 52% Are in the Money
Litecoin holders all over the world are smiling at the banks! Over half (52.89%) of Litecoin (LTC) holders are currently in the green, with profits surging, according to crypto analytics firm IntoTheBlock. This is massive news for the veteran altcoin, which has been around since 2011 and has had its fair share of ups and downs.
Historically, Litecoin has hit bottom levels with 85% of holders in the red, but not this time around. The fact that more than half of the holders are currently profiting raises the question of whether Litecoin will continue its upward trend. We'll have to wait and see, but things are looking good so far!
Litecoin Emerges as a Popular Cryptocurrency for Online Shopping
But that's not all, folks. In addition to the surge in profits, Litecoin has also emerged as one of the most popular cryptocurrencies for online shopping. According to new research by a crypto payment processor, in 2022, Litecoin will be the fourth most utilized cryptocurrency as a payment option for online shopping, behind Bitcoin (BTC), USDT, and Ethereum (ETH).
Last year, there were 88,295 LTC-involved orders, which accounted for 9.5% of total cryptocurrency payments handled through the payment platform. That's huge! And the number of Litecoin payments represented a growth of over 6% from the previous year. So, if you're a fan of online shopping, Litecoin might be the way to go.
Litecoin Payment Volume in E-Commerce Surges
But wait, there's more! Another survey from the crypto payment platform showed that the volume of crypto payments in e-commerce surged by over 60% in 2022. That's a lot of growth in a short amount of time. It looks like the use of cryptocurrencies for online shopping is only going to continue to increase, and Litecoin is right at the forefront.
So, what does the future hold for Litecoin? Well, the halving event is expected to occur in 2023, and it will see the mining reward for Litecoin cut in half. This will significantly reduce the supply of Litecoin in circulation, which could lead to an increase in its value. It's something to keep an eye on if you're a Litecoin holder or interested in investing in cryptocurrency.
All in all, it's a great time to be a Litecoin holder or supporter. With profits surging and popularity increasing for online shopping, Litecoin is proving itself to be a viable cryptocurrency. We can't wait to see what the future holds for this veteran altcoin.
LTC Price Performance
Litecoin can be seen to have a clear upward path as it hovers near the $100 round figure. As of the time of writing, Litecoin trades at $97.40, which is up by 2.25% in the last 24 hours. This price increase is a good sign for investors, as it indicates a positive market sentiment for Litecoin.
Furthermore, the 24-hour trading volume for Litecoin is $551 million, which suggests that there is a healthy level of interest in the cryptocurrency, further supporting the bullish narrative. This is important because it means that there are buyers and sellers actively participating in the market, which helps to create a stable and liquid trading environment.
That said, a lot could change if the cryptocurrency breaks the $101 resistance with the bullish momentum waxing stronger. How do you think this could play out?
LTC Statistics Data
LTC Current Price: $97.4
LTC Market Cap: $7.06B
LTC Circulating Supply: 72.3M
LTC Total Supply: 84M
LTC Market Ranking: #13
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Disclaimer
This article should not be taken as financial advice. It is essential to conduct research before making any investment decisions.