Litecoin Sees Significant Gains, Pushing 80% of Addresses into Profit

Litecoin has experienced a notable surge in value, with a 27% increase over the past week. This upward momentum has led to a substantial rise in the number of addresses in profit, now nearing 80%.

Profitable Holders on the Rise

According to recent data, Litecoin’s price surge has resulted in a significant increase in profitable holders. In mid-November, around 60% of LTC holders were in profit. By December 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.

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.

“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?”

Litecoin’s Price Surge

Litecoin’s price of $122.79 on December 2 was up 19% in 24 hours and 28% in the past week. These gains add to nearly 78% in the last 30 days. 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.

Potential Resistance and Upside Momentum

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. This could potentially create resistance, but it may also contribute to Litecoin’s upside momentum.

Tips for Litecoin Investors

  • Keep an eye on Litecoin’s price movements and adjust your investment strategy accordingly.
  • Consider the potential resistance created by holders who may sell as they break even.
  • Monitor the In/Out of the Money metric to stay informed about the number of addresses in profit.

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