How has the 84 million supply been distributed over time?
A lot has changed since Litecoin was launched in 2011 with a maximum supply of 84 million LTC. Silver to Bitcoin Gold. Cryptocurrency has recently been completed. Third halving in AugustFinally, we reduced the number of LTC miners who receive rewards for mining blocks from 12.5 LTC to 6.25 LTC.
Over the past 12 years, most of this supply has been distributed to miners as block rewards for validating Litecoin transactions. At the time of this writing, there are 73.76 million LTC in circulation, and data shows that this supply is concentrated in large holders.
estimate According to cryptocurrency analytics platform IntoTheBlock, more than 49% of LTC is held in accounts holding more than 0.1% of the circulating supply. Bit Info Chart We also put in addresses over 100,000 LTC, accounting for 38.01% of the total supply.
Source: IntoTheBlock
Who are the biggest Litecoin wallet holders today?
Litecoin’s total supply of 84 million has been distributed through mining rewards and market transactions over the past 12 years. The largest wallet addresses include large-scale miners who have accumulated Litecoin through years of mining and cryptocurrency exchanges. Creator Charlie Lee claims to have sold or donated every LTC token in his collection.
The honor of the largest Litecoin wallet address belongs to “M8T1B”, accounting for 3.34% of the total circulating supply. The wallet holds 2,504,667 LTC worth $158,105,141 at the current market price.
Next is “ltc1qr” with 2,225,000 LTC worth $140,451,374. Wallet addresses “MQd1f” and “ltc1qn” ranked third and fourth in the ranking, holding 1,344,464 LTC and 1,097,050 LTC worth $84,868,217 and $69,250,423, respectively. According to data from BitInfoCharts, these top four addresses hold 8.18% of all coins in circulation.
Source: BitInfoCharts
Other top whales include “ltc1q2” and “MQSs1” with addresses of 927,542 LTC ($58,550,373) and 745,000 LTC ($47,027,540), respectively. Looking at the data, we can see that these six addresses are Litecoin blockchain whales, holding more than 1% of the circulating supply. According to statistics from IntoTheBlock, the total concentration of these whales is 11.88% (8.84 million LTC).
Wallets “MB8nnF”, “MFULdM”, “MESruS”, and “LZEjck” rounded out the top 10 with 513,259 LTC, 472,674 LTC, 416,688 LTC, and 394,044 LTC, respectively.
What does Litecoin’s supply distribution mean for the future?
There seems to be a dull market movement with whales. The seller is continuing to maintain it. Control over the market. As a result, inflows to wallets holding at least 0.1% of the circulating supply have decreased by 91.07% over the past three months.
Source: IntoTheBlock
Since 87% of LTC has already been mined, the rate of new supply will slow over time. This can support price stability and sustainability. Litecoin is currently trading at $63.07 and, like all cryptocurrencies, pseudonymous crypto analyst P_S_trade predict Litecoin could soon go up to $84.
According to Historical data collected by Crypto analyst Tony “The Bull” Litecoin has always retraced 70% in the weeks since the last halving. But the recently concluded halving event may suggest a different story.
Litecoin is currently range from last week Looking to extend gains of 2.35% in the last 24 hours.
LTC price holding above $62 | Source: LTCUSDT on Tradingview.com
Featured image from Investopedia, chart from Tradingview.com