One of the best altcoins to buy in 2022 may be Litecoin (LTC). At the time of writing, Litecoin (LTC) is trading at $53.35, up almost 1.5% in the last 24 hours and also in the last 7 days, data from Coinmarketcap shows.
At a glance, it can be said that LTC is in the same boat as Ethereum, the second largest cryptocurrency in the world by market capitalization. But when you take into consideration the percentage of their holders who make a profit, you can see a huge disparity.
Litecoin holders in a difficult situation, in terms of profits
An online data provider, TipRanks, revealed yesterday September 25 that only 15% of total Litecoin (LTC) holders are making a profit and 12% are in status quo, leaving 74% dealing with huge losses. This was before the altcoin started to drop below the $53 mark.
In comparison, Ethereum is doing better. The data shows that 51% of its holders make a profit, while 46% incurred a loss. The remaining 3% is at breakeven.
The large difference between the percentages of holders of the two altcoins enjoying gains is not much of a surprise as Ethereum is fueling a bull run following initiatives to improve its network.
Litecoin, on the other hand, had to deal with losses that derailed the momentum.
Stagnant network state causing LTC to drop
The Litecoin network has little to no activity and that is one of the reasons why it is not catching up with Ethereum. With its stagnant state, Litecoin is forced to take a bearish outlook along with the majority of the cryptocurrency market.
Over the past few weeks, the crypto space has continued to bleed and that trend continues to date.
Meanwhile, Ethereum, despite showing some difficulty in maintaining the $1,500 trading price, is the subject of excitement from the crypto community as it recently transitioned to the proof-of-stake (PoS) mechanism called “The Merger.” .
While the landmark event failed to deliver the expected rally from the king of all altcoins, it did give holders and investors something to look forward to.
But, going back to Litecoin, and looking at the long-term historical chart, on a monthly basis, we can see how it broke the bottom of the channel, which could be a false signal. At the same time, with low volume, an RSI in the oversold zone and a 50-period moving average quite far away, Litecoin (LTC) could perhaps be one of the best altcoins to buy in 2022.
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