Litecoin (LTC) and Dogecoin (DOGE) have emerged as top players among the altcoin constellation that attracts a large amount of empty wallets and holders. This confirms the growing investor interest in these alternative cryptocurrencies. Santiment, a leading data insights platform, observed this trend in a 10-year study.
The report shows that Litecoin, often referred to as the “silver of Bitcoin,” holds the most hodlers, with a whopping 8.08 million non-empty wallets. Meanwhile, Dogecoin, the oldest memecoin cryptocurrency, secures second place with 6.69 million wallets.
Top number of Litecoin and Dogecoin wallets 3
According to IntoTheBlock data, LTC has recently processed $2.85 billion in transactions averaging over $100,000 each day. This number represents more than 50% of Litecoin’s market capitalization and is an important milestone among Layer 1 protocols.
In contrast, Dogecoin handles only $590 million in large transactions, despite boasting nearly three times the market capitalization of Litecoin. This difference highlights LTC’s attractiveness to large investors and the increasing whale activity within its network.
Analysts believe the increase in high-value transactions is due to growing confidence in Litecoin’s stability and usefulness as a reliable digital currency.
Litecoin: Shiba Inu joins pack
Other notable altcoins that have shown solid growth include XRP, which has 5.24 million wallets, while Cardano (ADA) has 4.48 million wallets. Another meme coin that made it to the list is Shiba Inu (SHIB), which gained 1.39 million non-empty wallets. Even Chainlink (LINK), a decentralized blockchain oracle network, has secured a remarkable 722,000 non-empty wallets. All of these numbers demonstrate investor interest in altcoins with utility-driven objectives.
The proliferation of non-empty wallets reflects the increasing adoption of altcoins. Several factors may be driving this trend, including ease of use, low trading fees, and diversification. Although the data suggests promising developments, it is important to note that non-empty wallets do not necessarily equate to active users. It is also important to understand the engagement levels and overall investment activity within these altcoin communities.
Overall, the increase in non-empty wallets indicates a positive situation for the altcoin market. As the cryptocurrency ecosystem continues to gain traction, it will be interesting to see how these trends develop and how altcoins are positioned within the broader financial landscape.
