In March, Litecoin (LTC) emerged as the top choice for global payments, surpassing Bitcoin (BTC) with a share of 39%. Despite a slight decline from February, LTC maintained its dominance in the market for the third consecutive month in 2024. This consistent performance highlights LTC’s reliability and popularity among users, as it processed more transactions than both BTC and Ethereum combined.
While LTC excelled in payment transactions, there was a noticeable increase in long-term holders (LTH) of Litecoin. The number of LTH surpassed 5 million, indicating a growing trend of holding onto LTC for extended periods. This trend, with LTH constituting over 62% of all Litecoin addresses, reflects a strong belief in the coin’s value and potential for long-term growth. Despite trading at a lower value compared to its all-time high, LTC’s stability and user loyalty bode well for its sustained popularity and relevance in the crypto market.
However, LTC’s growth has stagnated in recent months, leading to a decline in its open interest and reducing returns for investors. The lack of significant price movements has left traders with limited opportunities to benefit, resulting in a drop in speculative market investments by nearly 13%. Despite these challenges, LTC’s resilience in maintaining its position as a preferred payment option and attracting a large cohort of long-term holders suggest a strong foundation for its future growth and market presence.