Only 14% of Litecoin holders are currently beneficiaries, while those of Ethereum are at 51%. – The Inquirer πŸ‡«πŸ‡·

TipRanks data.

Litecoin holders earn money at the current price. Source: TipRanks

Elsewhere, amid increased network activity and a significant drop from its all-time high, more than half of Ethereum holders, or 51%, are in a profit position with a price of assets of $1,320 at press time. Only 46% are in the loss.

Ethereum holders earn money at the current price. Source: TipRanks

Portability Variations Explained

The variation in profit holders between the two cryptocurrencies comes as no surprise, given that Litecoin saw significant losses, unlike Ethereum, which managed to maintain a bullish outlook amid moves to improve the market. network.

At the same time, profit holders point to the status of the two assets in the cryptocurrency market. Although both currencies have their values ​​and have seen massive losses, Ethereum is at a critical stage of development, sparking excitement in the crypto community over the prospects for the decentralized finance (DeFi) asset. This ability to attract more investors will likely continue to drive interest in Ethereum.

Additionally, Litecoin has increasingly formed a bearish outlook in correlation with the general crypto market. With little ongoing activity on the network, the asset could potentially embark on another steep correction, unless the general market rallies.

It should be noted that Ethereum has struggled to hold its price above $1,500 after initial projections that the asset would recover from the historic meltdown upgrade. In particular, the event that elevated the network to Proof-of-Stake (PoS) status turned out to be a “buy the rumour, sell the news” scenario, as the impact of the broader market has exceeded the asset.

In fact, the vast majority of Ethereum holders have continued to profit despite market selloffs. Also, the holders are potentially early adopters of the second-largest cryptocurrency by market capitalization.

Bullish sentiment around Ethereum

Ultimately, the ability of holders to stay in profits will largely depend on how Ethereum recovers from the current state, given that a section of market analysts are projecting that the merger is bullish sentiment for the current state. asset.

Likewise, technical data indicates that Ethereum is approaching a bottom and is ready to rally. As Theinquirer reported on September 23, Ethereum’s ‘rainbow chart’ hinted at a rally ahead.

However, it should be noted that banking giant JPMorgan (NYSE:JPM) has warned that the merger could pose problems for Ethereum, citing issues such as division within the community and diminishing decentralization. More importantly, the bank noted the sharp drop in the price of ETH after the upgrade as a key area of ​​concern.

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Only 14% of Litecoin holders are currently beneficiaries, while those of Ethereum are at 51%. – The Inquirer πŸ‡«πŸ‡·


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