The fact that a sizable portion of the LTC supply has not changed in years is encouraging for the Litecoin network.
13% of the Litecoin (LTC) supply, according to IntoTheBlock, hasn’t been traded in five years, which signals long-term hodling.
The on-chain analytics company IntoTheBlock highlighted the proportion of supply of proof-of-work cryptocurrencies, such as Bitcoin, Dogecoin, and Litecoin, which have not changed in years in its most recent statistics.
IntoTheBlock wrote in a message attached to the photograph that unmoving coins reveal a lot about the long-term thinking of cryptocurrency investors.
Litecoin has a fixed supply that is set at 84 million LTC coins, much like Bitcoin. 87.37% of the total supply of Litecoin is now in circulation, or 73,387,727 LTC.
If computed, 10.92 million LTC, or 13% of the 84 million LTC supply, remain unmoved after five years, which is still a large proportion.
Litecoin network fundamentals grow
As is to be expected, anticipation is growing for Litecoin’s (LTC) third historical halving.
The Litecoin halving event, which will lower mining payouts from 6.25 LTC to 3.125 LTC, is now 15 days and 6 hours away, with an estimated date of August 2. This information comes from OKlink. There are 8,807 blocks left for this event.
The recent improvement in the fundamentals of the Litecoin network reflects this. As was previously mentioned, Litecoin executed the 170 millionth transaction, beating the previous transaction record for the network.
According to a recent message from the official Litecoin Twitter account, the currency’s hash rate is at 804.70 TH/s at block height 2,510,987 with a difficulty of 27,541,766.25.
