Litecoin has gained more than 27% in the past week, pushing the number of addresses in profit to nearly 80%.
According to data from analytics platform IntoTheBlock, Litecoin’s (LTC) recent price surge has led to a significant increase in profitable holders. In mid-November, around 60% of LTC holders were in profit. By Dec. 2, that figure had risen to almost 80%, with the In/Out of the Money metric showing over 6.37 million Litecoin addresses—approximately 79.37%—now in profit.
— IntoTheBlock (@intotheblock) November 18, 2024Over 60% of LTC holders are now in profit—the highest since April.
Many of the holders still at a loss bought in 2021 and may sell as they break even. Could this create resistance, or will Litecoin push past and set new highs this cycle? pic.twitter.com/EY4iKrKss8
On Dec. 2, Litecoin’s price of $122.79 was up 19% in 24 hours and 28% in the past week. These gains, which have come as Bitcoin toyed with the coveted $100k and XRP exploded, add to nearly 78% in the last 30 days. Per IntoTheBlock, this upside momentum has elevated more than 6.37 million LTC addresses, or about 79.37% of holders, into profit.
This is the highest percentage of Litecoin holders in profit since November 2021, when 75% of holders were in green as LTC reached $220. However, about 1.23 million addresses, or 15.36% of holders, remain “out of the money,” having purchased LTC at higher prices.
Despite being well below its all-time high of $410 in May 2021, Litecoin has surged from August lows of $56 to highs of $128. IntoTheBlock data shows that with LTC hovering near its highest level since March 2022, an additional 423,180 addresses are currently “at the money” and could flip profitable if the rally continues.