Litecoin’s median holding time (93 days) recently surpassed that of Bitcoin (75 days), Cardano (72 days), and Ethereum (71days), claiming the top position on Coinbase’s median hold ranking.
Litecoin, popularly known as the “silver Bitcoin,” is one of the oldest cryptocurrencies after Bitcoin. It was modeled after bitcoin and was created to solve issues that plague bitcoin, like slow processing speed and mining inequalities.
With the current state of the market and the increased volatility even on stablecoins. Investors are looking out for the market cap of a project, its competitive advantage, and its median hold time. Coinbase, one of the major crypto exchange platforms, releases periodic rankings, showing the hold time for each major currency it trades on its platform.
Litecoin topped the list directly above Bitcoin, the oldest cryptocurrency to be traded, and Ethereum, the origin of smart contracts.
Several modifications have been effectuated on the Litecoin network in the last few months. Litecoin recently implemented the MWEB upgrade, which brought privacy to the network. Although the upgrade did not trigger an impulsively bullish price action, it has attracted users who fancy privacy to the network.
Bitcoin and Ethereum are the top Blue-chip coins. Hence they are looked to for price stability within the crypto space. It’s no surprise that they are being “hodled,” and their price movements affect the whole crypto market.
Other projects like Solana, which has a transaction processing capacity of around 5,000 TPS, and Avalanche, which has a capacity of 4,500 TPS, and real-life appeal. Their market cap increases steadily, but their price volatility hurts their median hold time.
Still, Blaskey of BitIRA believes Litecoin is fit for seasoned crypto investors, especially those who want a combination store-of-value asset with the side benefit of convenient transactions.