Litecoin (LTC) Outperforms Dogecoin (DOGE) in On-chain Activity

Litecoin Surpasses Peers in On-Chain Activity

Data from IntoTheBlock reveals that Litecoin (LTC) exhibits exceptional on-chain activity, surpassing other prominent coins like Dogecoin (DOGE). Notably, LTC processes a remarkable $2.85 billion in high-value transactions (over $100,000) daily. This figure exceeds 50% of LTC's market capitalization and outpaces the transaction volume of major layer-1 blockchains.

Whale Activity Dominates Litecoin Network

The high volume of high-value transactions on Litecoin indicates significant activity among large holders (whales). Institutional investors or high-net-worth traders appear to be actively utilizing the Litecoin network for major transfers, demonstrating their confidence in LTC's long-term prospects.

LTC Outperforms DOGE in Large Transactions

Despite its higher market capitalization, Dogecoin's on-chain activity in large transactions is considerably lower than Litecoin's. DOGE processes only $590 million in daily transactions over $100,000.

This contrast highlights the distinct use cases and community engagement of each coin. Litecoin attracts a strong presence of large holders, while Dogecoin maintains a large following driven by social media trends and celebrity endorsements.

Impact of Whale Activity on Litecoin

The rising whale activity on Litecoin can influence market dynamics. Historical evidence suggests that such large holders can exert a significant impact on price movements due to the size of their holdings. Their active participation in the Litecoin market indicates their growing confidence in its stability, security, and potential for future growth.