As the cryptocurrency market has continued falling to the lower side, it has managed to turn the investments of most of the investors into losses.
In recent days, the general sell-off for cryptocurrencies has started losing momentum. However, the sell-offer pressure has not lessened at a significant rate.
Although the majority of the cryptocurrencies are losses some investors have indeed generated profits, and they still continue generating gains.
However, the gains recorded are for different cryptocurrencies and at different rates.
Comparison between LTC and ETH
Among the majority of the cryptocurrencies are Litecoin and Ethereum which have recorded strong profits for their investors.
A comparison has been carried out between LTC and ETH. The data shows that as of September 25, the profits recorded for Litecoin are 14% while it trades at a price of $53 per LTC.
Compared to the profiting investors, 74% have been incurring losses with their investments in Litecoin. The remaining investors are breaking even with their investments in LTC.
As for Ether, more than half of the total investors are generating gains. The report shows that 51% of the total ETH investors are generating profits as the trading price of ETH is sitting at $1,320. There is only 46% of the total investors are facing losses.
Factor Resulting in Profit Variation
The factor behind the profit variation is the demand and popularity of cryptocurrencies. Compared to Litecoin, Ethereum has a strong investor base.
The ETH investors have been holding onto the digital asset for a longer period than the LTC investors. This suggests that most of the investors had invested in ETH in the earlier days of 2021.
As ETH stepped into the year 2021, its trading price started to jump higher and by mid of January 2021, its value had crossed the $1,000 mark.
Therefore, if the investors had invested in ETH at that time, they would still be looking at significant profits.
On the other hand, LTC is less in demand and as its adoption level is low, it is not prone to much volatility. LTC has less recognition in the market while ETH has high, which suggests that LTC has not seen much of a difference in its trading price.
This means that the investors are not generating many profits from making investments in Litecoin.
ETH has Continued Evolving
The reason behind ETH’s success is the constant upgradation and updates it has made to its protocol. This has kept the interest level of the investors at a high and thus, the investors have continued investing in the digital asset.
ETH has also witnessed great mainstream adoption that has helped it record significant jumps in its value. For this purpose, ETH has always appeared to be more profitable than any other cryptocurrency.