SoV-ers need transactors in a 0-inflation state (for security) more than transactors need SoV-ers (for extra liquidity). So transactors have a better negotiating position. They can force inflation in the winning coin by migrating to a fork/alt which treats them well.
HODLers make the coin actually valuable, make the price go higher due to decreasing velocity. Transactors move money so they increase velocity. Transactors could go to any alt and HODLers wouldn't care. HODLing (SoV) gives the asset its price, not its transactional utility.
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Transactors don't care about the the absolute price level. When someone uses LTC to pay for something instead of BTC, LTC's lower market cap doesn't bother them. They care about liquidity/stability being enough to make the reduced friction worth it.
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