Litecoin Conviction Remains Strong: More Than 20% Of Supply Frozen Since 5+ Years
HODLing conviction on the Litecoin network is increasing, particularly among long-term holders (LTHs) who have held coins for over a year. Two specific cohorts are highlighted: holders with coins dormant for 3-5 years and those with coins dormant for over 5 years. The longer coins are held, the less likely they are to be sold. The 5+ years LTHs are considered the most steadfast, controlling over 20% of Litecoin's unspent transaction outputs (UTXOs). Analysis shows that increases in the supply of the 3-5 years cohort correspond to past buying periods during bull runs, with some selling occurring during subsequent rallies and downturns. In contrast, the 5+ years group has shown consistent growth in supply. Litecoin's price has risen over 9% recently, reaching $83.
