Litecoin marks 12th anniversary, holds $4.55 billion market cap
Investing.com | Editor Ambhini Aishwarya
Published Oct 16, 2023 06:36AM ET
Litecoin, the digital currency often referred to as "the silver to bitcoin's gold," recently celebrated its 12th anniversary and underwent its third reward halving on Monday. The event saw miners' earnings reduced to 6.25 LTC per block. As of mid-October 2023, Litecoin ranks as the 15th heavyweight in the crypto realm, boasting a nearly $4.55 billion market cap.
The digital currency is held by approximately 7.14 million distinct addresses. Its circulating supply is nearing its max cap, standing at about 73.76 million LTC out of a possible 84 million LTC. Concentration of wealth is significant within Litecoin's ecosystem, with the top ten wallets controlling a substantial 12.67% of the total stash. A wallet identified as "M8T1B" leads the pack with over 2.5 million coins.
Further down the list, the top twenty wallets hold 16.41% of the total supply, while the top fifty and one hundred wallets control 27.14% and 37.64%, respectively. This concentration contrasts with Bitcoin, whose top 100 wallets hold only 13.64% of its circulating supply but aligns more closely with XRP's top 100 holders who control 33.14%.
In comparison to other digital currencies such as Solana, whose top ten wallets control an impressive 32.99% of its total supply, Litecoin's distribution appears less concentrated at the top end.
The Litecoin community is home to 458 millionaires, with 82 accounts each holding $10 million or more in LTC. Interestingly, around 2.3 unique addresses contain just $1 in LTC, reflecting a broad spectrum of holdings within the digital currency's user base.
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