Bitcoin.com News has recently taken a closer look at the leading XRP wallets, after examining the top bitcoin, ethereum, and tether addresses. The next digital asset coming under scrutiny? The commanding ten litecoin (LTC) wallets, a remarkable percentage of the 7.14 million unique LTC-holding addresses. Litecoin, frequently referred to as "bitcoin's silver," operates on a proof-of-work blockchain and has a rich 12-year history.
Litecoin's Titans: The Supreme Wallets
Litecoin marked its twelfth anniversary recently, having been established by Charlie Lee on October 13, 2011. The digital currency network has just gone through its third reward halving, resulting in miners now receiving 6.25 LTC for every mined block. As of October 15, 2023, with a market cap of approximately $4.55 billion, LTC ranks as the 15th heavyweight in the cryptocurrency world. Currently, around 73,762,420 LTC are in circulation, nearing its maximum limit of 84,000,000 LTC.
Over these twelve years, 7.14 million unique litecoin addresses hold LTC. Interestingly, the dominant ten wallets control 12.67% of the total available supply. The top holder, 'M8T1B,' possesses a remarkable amount of 2,504,667 LTC, accounting for 2.98% of the total coins. Close behind is 'ltc1q' with control over 2.65% of the entire LTC supply, or 2.22 million tokens. The third place is held by 'MQd1f' with 1.34 million coins, a 1.6% share. Meanwhile, 'ltc1q' claims the fourth spot with 1.09 million LTC, or a 1.31% share.
The Litecoin Hierarchy: The Top Ten
Following the leading four are the wallets 'ltc1q' (927,542), 'MQSs1' (745,000), 'MB8nn' (513,259) clinching the fifth, sixth, and seventh spots, each with over 500,000 LTC. In the eighth spot, 'MFULd' holds 472,674 LTC, making up 0.56% of the current supply. Close behind in ninth place is 'MESru,' with 416,688 LTC, or 0.5% of circulating coins. Rounding out the top ten is 'LZEjc' with 393,258 LTC or 0.47% of the available litecoin supply.
Looking further into the Litecoin hierarchy, the following ten wallets hold approximately 3.74% of the total supply, with the top 20 wallets securing 16.41%. Meanwhile, the elite 50 LTC wallets control 27.14% of all LTC, and the top 100 wallets collectively amass 37.64%. From the large pool of 73.76 million LTC, these top 100 wallets command about 27 million tokens.
Litecoin vs Bitcoin and XRP
When compared to bitcoin (BTC), Litecoin lags behind; BTC's top 100 wallets secure 13.64% of its circulating supply. However, when compared with XRP, LTC's top 100 seems more in line, considering that XRP's top 100 holders control 33.14%. In contrast, the top ten solana (SOL) wallets control a remarkable 32.99% of its total supply. Currently, litecoin has 458 millionaires in its ranks, with 82 accounts each holding $10 million or more. Approximately 2.3 unique addresses hold just $1 in litecoin (LTC).
Final Thoughts
What are your viewpoints about the leading ten litecoin wallets? We invite you to share your thoughts and perspectives about this topic in the comments section below.
Frequently Asked Questions
What is the best precious metal to invest in?
This question is dependent on the amount of risk you are willing and able to accept as well as the type of return you desire. Gold has been traditionally considered a haven investment, but it's not always the most profitable choice. You might not want to invest in gold if you're looking for quick returns. You should invest in silver if you have the patience and time.
If you don’t want to be rich fast, gold might be the right choice. Silver might be a better investment option if steady returns are desired over a long period of time.
What proportion of your portfolio should you have in precious metals
To answer this question we need to first define precious metals. Precious Metals are elements that have a very high relative value to other commodities. This makes them valuable in investment and trading. Gold is currently the most widely traded precious metal.
However, many other types of precious metals exist, including silver and platinum. The price for gold is subject to fluctuations, but stays relatively stable in times of economic turmoil. It also remains relatively unaffected by inflation and deflation.
In general, all precious metals have a tendency to go up with the market. However, the prices of precious metals do not always move in sync with one another. For instance, gold's price will rise when the economy is weak, while precious metals prices will fall. Investors expect lower interest rates which makes bonds less appealing investments.
When the economy is healthy, however, the opposite effect occurs. Investors favor safe assets like Treasury Bonds, and less precious metals. These precious metals are rare and become more costly.
It is important to diversify your portfolio across precious metals in order to maximize your profit from precious metals investments. You should also diversify because precious metal prices can fluctuate and it is better to invest in multiple types of precious metals than in one.
How much gold do you need in your portfolio?
The amount you make will depend on the amount of capital you have. You can start small by investing $5k-10k. You could then rent out desks and office space as your business grows. This will allow you to pay rent monthly, and not worry about it all at once. You only pay one month.
Consider what type of business your company will be running. In my case, I run a website-creation company. Our clients pay us between $1000-2000/month and depending on their order. You should also consider the expected income from each client when you do this type of thing.
As freelance work requires you to be paid freelancers, your monthly salary won't be as high as mine. You may get paid just once every 6 months.
You must first decide what kind and amount of income you are looking to generate before you can calculate how much gold will be needed.
I recommend starting with $1k to $2k of gold, and then growing from there.
How does a gold IRA account work?
The Gold Ira Accounts are tax-free investment options for those who want to make investments in precious metals.
You can purchase physical bullion gold coins at any point in time. To start investing in gold, it doesn't matter if you are retired.
Owning gold as an IRA has the advantage of allowing you to keep it forever. Your gold holdings won't be subject to taxes when you pass away.
Your gold is passed to your heirs without capital gains tax. It is not required that you include your gold in the final estate report because it remains outside your estate.
To open a gold IRA, you will first need to create an individual retirement account (IRA). After you have done this, an IRA custodian will be assigned to you. This company acts as a middleman between you and the IRS.
Your gold IRA Custodian will manage the paperwork and submit all necessary forms to IRS. This includes filing annual returns.
After you have created your gold IRA, the only thing you need to do is purchase gold bullion. The minimum deposit is $1,000. A higher interest rate will be offered if you invest more.
When you withdraw your gold from your IRA, you'll pay taxes on it. If you take out the whole amount, you'll be subject to income taxes as well as a 10 percent penalty.
Even if your contribution is small, you might not have to pay any taxes. There are exceptions. There are some exceptions. For instance, if you take out 30% or more from your total IRA assets, federal income taxes will apply plus a 20 percent penalty.
You should avoid taking out more than 50% of your total IRA assets yearly. You could end up with severe financial consequences.
Is gold a good IRA investment?
Gold is an excellent investment for any person who wants to save money. It can be used to diversify your portfolio. But gold has more to it than meets the eyes.
It's been used throughout history as a currency, and even today, it remains a popular form of payment. It is often called “the most ancient currency in the universe.”
Gold is not created by governments, but it is extracted from the earth. It's hard to find and very rare, making it extremely valuable.
The supply and demand factors determine how much gold is worth. The economy that is strong tends to be more affluent, which means there are less gold miners. Gold's value rises as a result.
The flip side is that people tend to save money when the economy slows. This increases the production of gold, which in turn drives down its value.
This is why it makes sense to invest in gold for individuals and companies. You'll reap the benefits of investing in gold when the economy grows.
Also, your investments will earn you interest which can help increase your wealth. Plus, you won't lose money if the value of gold drops.
Can the government take your gold
Your gold is yours and the government cannot take it. It is yours because you worked hard for it. It belongs to you. This rule may not apply to all cases. You could lose your gold if convicted of fraud against a federal government agency. Also, if you owe taxes to the IRS, you can lose your precious metals. However, if you do not pay your taxes, you can still keep your gold even though it is considered property of the United States Government.
What are the pros & cons of a Gold IRA?
An Individual Retirement Account (IRA), unlike regular savings accounts, doesn't require you to pay tax on interest earned. An IRA is a great way to save money and not have to pay taxes on the interest you earn. However, there are also disadvantages to this type of investment.
For example, if you withdraw too much from your IRA once, you could lose all your accumulated funds. Also, the IRS may not allow you to make withdrawals from your IRA until you're 59 1/2 years old. A penalty fee will be charged if you decide to withdraw funds.
Another problem is the cost of managing your IRA. Many banks charge between 0.5%-2.0% per year. Other providers charge monthly management charges ranging anywhere from $10 to $50.
Insurance is necessary if you wish to keep your money safe from the banks. Most insurers require you to own a minimum amount of gold before making a claim. Insurance that covers losses upto $500,000.
If you choose to go with a gold IRA, you'll need to determine how much gold you want to use. Some providers limit the amount of gold that you are allowed to own. Others let you choose your weight.
It's also important to decide whether or not to buy gold futures contracts. Gold futures contracts are more expensive than physical gold. Futures contracts provide flexibility for purchasing gold. They enable you to establish a contract with an expiration date.
Also, you will need to decide on the type of insurance coverage you would like. The standard policy doesn't include theft protection or loss due to fire, flood, or earthquake. However, it does cover damage caused by natural disasters. You might consider purchasing additional coverage if your area is at high risk.
Additional to your insurance, you will need to consider how much it costs to store your gold. Storage costs are not covered by insurance. Additionally, safekeeping is usually charged by banks at around $25-$40 per monthly.
If you decide to open a gold IRA, you must first contact a qualified custodian. A custodian maintains track of all your investments and ensures you are in compliance with federal regulations. Custodians don't have the right to sell assets. Instead, they must keep your assets for as long you request.
Once you've decided which type of IRA best suits your needs, you'll need to fill out paperwork specifying your goals. You should also include information about your desired investments, such as stocks or bonds, mutual funds, real estate, and mutual funds. Also, you should specify how much each month you plan to invest.
After completing the forms, send them along with a check or a small deposit to your chosen provider. The company will then review your application and mail you a letter of confirmation.
You should consult a financial planner before opening a Gold IRA. Financial planners are experts in investing and will help you decide which type of IRA works best for your situation. You can also reduce your insurance costs by working with them to find lower-cost alternatives.
Statistics
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
External Links
finance.yahoo.com
investopedia.com
law.cornell.edu
- 7 U.S. Code SS7 – Designation of boards for trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement plans
bbb.org
How To
The History of Gold as an Asset
From the ancient days to the early 20th Century, gold was a common currency. It was universally accepted and loved for its beauty, durability, purity and divisibility. It was also traded internationally due to its high value. However, since there were no international standards for measuring gold at this point, different weights and measures existed worldwide. For example, in England, one pound sterling was equal to 24 carats of silver; in France, one livre tournois was equal to 25 carats of gold; in Germany, one mark was equal to 28 carats of gold; etc.
In the 1860s, the United States began issuing American coins made up of 90% copper, 10% zinc, and 0.942 fine gold. The result was a decrease in foreign currency demand, which led to an increase in their price. In this period, large amounts of gold coin were minted by the United States, which caused the gold price to drop. The U.S. government was unable to pay its debts due to too much money being in circulation. To do this, they decided that some of their excess gold would be sold back to Europe.
Since most European countries were not confident in the U.S. dollar they began accepting gold as payment. Many European countries began to use paper money and stopped accepting gold as payment after World War I. The price of gold has risen significantly since then. Even though the price of gold fluctuates, it remains one the best investments you can make.
—————————————————————————————————————————————————————————————–
By: Jamie Redman
Title: The Twelve-Year Journey of Litecoin and Its Dominant Wallets
Sourced From: news.bitcoin.com/the-12-year-evolution-of-litecoin-and-its-most-influential-wallets/
Published Date: Sun, 15 Oct 2023 22:30:09 +0000
Leave a Reply