"Holders" count is better than "Typical hold time"

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I've been seeing a lot of posts related to the Coinbase "Typical hold time" metric and as it increases it's generally a good thing as people aren't selling or swing trading. However, withdrawals to other wallets (like your L1/L2 wallet) will also negatively affect "Typical hold time" and withdrawals IMO are better than just simply holding your crypto on a centralized exchange (CEX).

A better metric we should follow is the # of Ethereum wallets that hold LRC: 104,449. This metric can be viewed on etherscan: https://etherscan.io/token/0xbbbbca6a901c926f240b89eacb641d8aec7aeafd

This is going to be even more important as people send their LRC to their respective Layer 2 (L2) smart wallet or counterfactual wallet.

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P.S. don't go rushing to get your crypto off a CEX if you're not familiar with the process of securely transferring and storing crypto - shit is scary.

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tech_consultant

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Posted: 2 years ago
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