Litecoin [LTC] has been pretty quiet in terms of adoption despite being one of the oldest cryptos on the market. While Bitcoin and Ethereum continue to dominate the market and headlines, Litecoin appears to have the upper hand this time.
The altcoin is gradually gaining traction. That, too, in unusual ways. Litecoin has been included in a number of initiatives, all of which have lately adopted cryptocurrency. Verifone has announced that, in collaboration with BitPay, it would soon be able to accept cryptocurrency payments. Litecoin will be included in this functionality, as well as a few other unique tokens. This will enable 46 million individuals to connect directly to these cryptocurrencies, resulting in increased cryptocurrency adoption.
Additionally, PayPal just released its super app, which now allows users to buy, trade, and hold cryptocurrencies outside of the United States, as well as in the United Kingdom. The functionality now only accepts Litecoin, as well as Bitcoin, Ethereum, and Bitcoin Cash.
Furthermore, MarketAmerica, the world’s largest e-commerce company, just announced that shop.com will accept crypto payments during checkout. Litecoin is back on the list, along with a few other digital assets.
However, even as adoption has grown, participation in certain regions has dropped in recent months.
Long-term investors. Long-term investors usually don’t sell until it’s an absolute need or they’re trying to make a profit. However, the selling patterns of Litecoin HODLers do not suit any of these scenarios.
Despite the fact that the whole market has been in the red this month, most Litecoin HODLers have been losing faith. For example, the Coin Days Destroyed measure indicated that several very ancient coins were sold this month.
In comparison to BTC, more coin days were destroyed in the case of LTC during the same timeframe, according to the indicator.
Another intriguing point mentioned here was that LTC holders sell when they are losing money, but BTC holders sell when they are making money.
Following the Walmart false news, the first selling began on September 14th, and continued on September 26th, when LTC plummeted by 14.3 percent in just 5 days.