On-chain data shows around 199,000 Litecoin addresses have sold off their entire holdings during the past 10 days alone.
Litecoin Addresses Carrying Some Balance Have Noted A Sharp Drop Recently
According to data from the on-chain analytics firm Santiment, the small LTC addresses have appeared to have been giving up recently as they have been emptying out their balances.
The metric of interest here is the total number of addresses on the Litecoin blockchain that are carrying a non-zero amount of the cryptocurrency. When the value of this indicator goes up, it means that the asset is observing more adoption as new investors are joining the network.
On the other hand, a decline suggests the holders are exiting the cryptocurrency as they are completely liquidating their wallets. Adoption is generally positive in the long term, while an exit like this could have more complex implications on the market.
Now, here is a chart that shows the trend in the number of Litecoin addresses over the p
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