What Litecoin’s Victory over Bitcoin Implies for its $100 Price Goal

Litecoin (LTC) emerged as the top choice for cryptocurrency payments in March, surpassing Bitcoin (BTC) and other major assets. According to BitPay, LTC accounted for 39% of global payments, slightly lower than its 41% share in February. Despite this decline, LTC has consistently dominated the charts and maintained its position for the third consecutive month in 2024. Notably, LTC recorded more transactions than BTC and Ethereum (ETH) combined. Additionally, IntoTheBlock reported a surge in the number of long-term holders of LTC, with over 5 million users holding the coin for at least one year. This trend suggests a strong HODLing (holding) trend within the Litecoin ecosystem. However, LTC’s price has remained stagnant in recent months, trading at $97, which is 76% lower than its all-time high of $412 in May 2021. As a result, speculative market investments in LTC have dropped by nearly 13% since the beginning of the month.