Crypto analytics platform Santiment has shed light on the six alternative coins with the highest number of holders on their respective networks. Leading the pack is Litecoin (LTC), boasting an impressive 8.10 million non-empty wallets, closely followed by Dogecoin (DOGE) with 6.69 million holders. Other notable mentions include Ripple's XRP, Cardano's ADA, Shiba Inu (SHIB), and Chainlink (LINK), showcasing their significant presence in the crypto space.

Despite topping the list, Litecoin has experienced a decline from its previous peak of approximately 9.4 million non-empty wallets several months ago. In contrast, XRP and SHIB have seen their holder numbers reach all-time highs, with XRP surpassing the 5 million milestone at the beginning of the year and continuing to grow. Shiba Inu, although having fewer holders than Dogecoin, boasts a devoted community, evident in its high socially-driven engagements.

Litecoin's enduring popularity can be attributed to its longevity, created over a decade ago by Charlie Lee as a faster alternative to Bitcoin. With a block time of approximately 2.5 minutes and the ability to handle up to 50 transactions per second, Litecoin has established itself as a viable option. The halving mechanism, similar to Bitcoin's, reduces the daily issuance of new tokens by half every four years, often preceding a price uptrend.

The latest halving event in August last year reduced miners' rewards from 12.5 LTC to 6.25 LTC, contributing to Litecoin's price surge to nearly $110 in March this year. Although it has since retreated to around $68, according to CoinGecko's data, Litecoin's strong foundation and holder base position it for potential future growth.

In conclusion, Santiment's revelation of the top alternative coins by holder numbers provides valuable insights into the crypto landscape. As the space continues to evolve, it is crucial to monitor these metrics, as they can indicate a coin's potential for growth and adoption.