Litecoin leads in non-empty wallets with 8.08M, signaling strong investor interest.
Dogecoin follows with 6.69M wallets, showing significant engagement despite its meme status.
Litecoin processes $2.85B daily in large transactions, reflecting its appeal to big investors.
Litecoin and Dogecoin lead the pack in terms of user adoption among major altcoins, according to a new 10-year analysis from Santiment. The data reveals these two cryptocurrencies have the highest number of non-empty wallets, indicating a strong and an even growing community of holders.
📊 Below is the 10-year chart of notable altcoins and the amount of non-empty wallets (hodlers) on their respective networks:Litecoin: 8.08M WalletsDogecoin: 6.69M WalletsXRP Ledger: 5.24M WalletsCardano: 4.48M WalletsShiba Inu: 1.39M WalletsChainlink: 722K Wallets pic.twitter.com/BiF97RBJmz
— Santiment (@santimentfeed) July 24, 2024
The data reveals that Litecoin, often referred to as “Bitcoin’s silver,” currently trading at $73.25 with a price increase of 0.51% in the last 24 hours, holds the highest number of non-empty wallets, totaling approximately 8.08 million. The figure asserts Litecoin’s appeal and growing acceptance among investors.
In comparison, Dogecoin, currently trading at $0.1342, with a trading volume of $936,817,619 over the last 24 hours, stays in second with 6.69 million non-empty wallets. Despite its meme status, Dogecoin’s substantial wallet count indicates strong user engagement.
Data from IntoTheBlock reveals that Litecoin processes a whopping $2.85 billion in daily transactions exceeding $100,000, which is more than half of its total market cap. This volume is indicative of significant whale activity on the Litecoin network.
For comparison, Dogecoin, despite boasting a market cap nearly three times that of Litecoin, only sees about $590 million in large transactions. This disparity points to a notable preference among institutional investors and high-net-worth individuals, who seem to favor Litecoin for its speed, efficiency, and established reputation.
Other altcoins have also experienced notable growth. XRP currently boasts 5.24 million non-empty wallets, indicating a strong user base. Cardano (ADA) follows with 4.48 million wallets, reflecting its solid adoption. Shiba Inu (SHIB), a popular meme coin, has garnered 1.39 million wallets, demonstrating its enduring appeal among investors. Chainlink (LINK), known for its decentralized oracle network, has secured 722,000 non-empty wallets.
Santiment data reveals a strong market for altcoins with Litecoin on top with a surging transaction volume and large holder base. Dogecoin’s popularity among retail investors helped it reach second place. The varied performance of other altcoins like XRP, Cardano, and Shiba Inu demonstrates the opportunities and risks associated within the crypto realm.
The post Altcoin Adoption Trends: Litecoin, Dogecoin Lead the Pack, Chainlink Lags appeared first on Coin Edition.
