Just a month after Litecoin’s third halving, the coin reached a new milestone. The recent success in LTC’s purse reflects investors’ confidence in the coin. However, although the number of LTC investors continued to increase, the willingness of investors to buy and sell the coin remained low, as 24-hour trading volume fell by over 3 percent.
A September 7 tweet from IntoTheBlock revealed that Litecoin’s total number of long-term hodlers has reached 5 million. This event signaled an increase in confidence in the asset.
Moreover, Glassnode’s chart pointed out another interesting metric. There has been a change in Litecoin’s Hodler Net Position, revealing that hodlers have been accumulating new positions over the past few months, further proving that investors have high hopes for LTC.
This belief was also reflected in the coin’s performance in the social sphere. According to LunarCrush, the uptrend around LTC has increased by more than 50 percent in the past month, while the downtrend has decreased by over 60 percent. Additionally, its social dominance increased by 23 percent, which sounds optimistic.