LTC - how far from flipping ETH?

Blockchains come and go, top blockchains stay longer. Let's check what Bitcoin's brother is doing, Litecoin. No DeFi, no NFTs inside.

Active addresses

LTC onchain activity is very strong throughout the season:

Source: Sanbase

Even with the crash it's still 389K addresses daily. ATH is around 485K which is more than ETH has right now. It's basically starting to rival Ethereum's daily activity. Obviously because of the fees as well.

We can take BTC, ETH, LTC and compare their onchain activity last year. Have a look:

Source: Sanbase

Litecoin active addresses moving average is still in a year long uptrend, close to flipping ETH. Bitcoin is the king, no doubts.

Network Profit Loss

We've got a drop recently, quite a strong one:

Source: Sanbase

Suggesting some weak hands shake out. A nice bottom sign. If history repeats itself of course.

MVRV 30d

This metric is almost neutral, -0.94:

Source: Sanbase

Means that short term holders are slightly below water, which is probably good. We're like in a small local bottom.

Age consumed:

Source: Sanbase

We can see no spikes last week suggesting a lite Litecoin uptrend may probably continue.

Charts used:

Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.

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