According to on-chain data, the number of long-term holders of Cardano (ADA) has grown by 170% in the last year.
Cardano and Litecoin: Leaders in Long-Term Holder Growth
According to data from market intelligence platform IntoTheBlock, long-term holders (LTHs) are investors who have held their coins for at least one year. These investors are typically committed and tend to hold onto their coins even during market downturns or profit-taking opportunities. The number of LTH addresses can have an impact on the economics of a cryptocurrency over the long term.
In terms of LTH addresses, Bitcoin (BTC) currently has 33.6 million, representing a 17.6% increase over the past year. Ethereum (ETH), despite having a lower market cap, has more than double the number of LTHs compared to BTC, with around 73.9 million addresses. ETH has also seen a sharper growth in LTH addresses at 44.2%.
Litecoin (LTC) has seen a significant growth of 100% in LTH addresses over the past year, doubling the number of HODLers on its blockchain. However, LTC still has a lower number of LTHs compared to BTC and ETH, with just 4.9 million addresses.
Cardano (ADA) has experienced a remarkable increase in LTH addresses, with a rise of over 170% during the same period. This surge has brought ADA’s total number of HODLers to 2.65 million.
Chainlink (LINK) is the only cryptocurrency in the data that has seen a decrease in its number of LTHs, with a decline of about 3%.
The significant increases in LTH addresses for Cardano and Litecoin can be seen as positive indicators for their prices, as it reflects a growing trend among investors to hold onto their tokens for longer periods.
The Price of ADA
Cardano’s recent rally has been short-lived, with the asset’s price dropping to around $0.26.