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.
LTC onchain activity is very strong throughout the season:
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:
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:
Suggesting some weak hands shake out. A nice bottom sign. If history repeats itself of course.
This metric is almost neutral, -0.94:
Means that short term holders are slightly below water, which is probably good. We're like in a small local bottom.
We can see no spikes last week suggesting a lite Litecoin uptrend may probably continue.
Charts used: https://app.santiment.net/s/QwEiKawU
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.