Altcoins
Ripple (XRP) and Shiba Inu (SHIB) are among the 6 most popular altcoins among holders: details
TL;DR
- Litecoin (LTC) leads the non-empty wallets with over 8 million, followed by Dogecoin (DOGE) with 6.69 million.
- Ripple (XRP) and Shiba Inu (SHIB) holders are also on the rise, recently hitting record numbers.
Here is the ranking
The Santiment Crypto Analysis Platform revealed the six alt coins that currently have the most holders on their respective networks.
Litecoin (LTC) leads the way with nearly 8.10 million non-empty wallets, followed by Dogecoin (DOGE) with 6.69 million. Ripple’s XRP, Cardano’s ADA, Shiba Inu (SHIB), and Chainlink (LINK) are the other cryptocurrencies included in the ranking.
Despite its top spot, Litecoin has seen a pullback, as non-empty LTC wallets were around 9.4 million several months ago. On the other hand, XRP and SHIB holders are currently at an all-time high. As CryptoPotato puts it: reportedThe number of XRP wallets hit the 5 million mark earlier this year and has only grown since.
Shiba Inu may have fewer holders than its main rival – Dogecoin – but a research entity estimated that it has the strongest and most dedicated community. The study was based on the total number of social media-driven engagements, including likes, retweets and posts involving SHIB, with the results announced late last year.
DOGE ranked second on this list, while Pepe (PEPE), Floki Inu (FLOKI), and Bonk Inu (BONK) were next.
Litecoin’s longevity
The success of the above-mentioned cryptocurrency could be explained by the fact that it came into existence more than a decade ago. It was created by Charlie Lee and launched in October 2011 to provide an alternative to Bitcoin with faster transactions. Litecoin has a block time of about 2.5 minutes compared to 10 minutes for BTC.
It also has a capacity of up to 50 transactions per second, while the main cryptocurrency can handle up to seven transactions for the same period.
Similar to BTC, Litecoin uses a halving mechanism to reduce the daily issuance of new tokens by half. The event occurs approximately every four years (or every 840,000 blocks), with the most recent being the 1st event in August last year. At that time, miner rewards were reduced from 12.5 LTC to 6.25 LTC.
Halving is usually a harbinger of an upward price trend. Recall that LTC reached nearly $110 in March this year before pulling back in recent months. Currently, it is worth around $68 (data from CoinGecko).
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