Litecoin Surges: 7.1 Million Holders, 99% Supply in Few Hands

Litecoin, introduced in 2011 by Charlie Lee, a computer scientist and software developer at Google, is a cryptocurrency that shares similarities with Bitcoin but has distinct features. While both use the proof of work (PoW) system, Litecoin differs in supply cap, hashing algorithms, block transaction speeds, and storage efficiency. Its block processing time is 2.5 minutes, compared to Bitcoin's 10 minutes, making it ideal for modest transactions with cheap transaction fees.

As of February 11, 2025, Litecoin is trading at approximately $129.49 per token, with an intraday high of $131.32 and a low of $113.32. The 24-hour trading volume stands at $1.88 billion, contributing to a market capitalization of around $9.77 billion.

Due to the anonymous nature of cryptocurrency transactions, it is challenging to calculate the exact number of Litecoin holders. However, according to Coincarp, there are approximately 7,145,978 active Litecoin account holders. This number provides an estimate, but it is important to note that many users may hold multiple wallets, and some wallets may belong to crypto exchanges.

The distribution of Litecoin shows a major chunk of small holders, amounting to 49.58%, who hold between 0 to 0.001 LTC. While this is a significant number, these small wallets hold negligible amounts of LTC in total, indicating that the major retail influence on Litecoin's supply is almost nonexistent. Wallets with larger holdings, such as those holding between 0.01 and 0.01, 0.1 and 1 LTC, and 1-10, 100-1000, 10,000-100000, and 100000-10000000 LTC coins, make up less than 3% of the total wallet addresses but hold more than 99.52% of the total Litecoin token supply.

The total number of Litecoins is 84 million, with a circulating supply of 75.52 million. This means that only 9.5 million coins