6 Days To Litecoin Halving, But LTC Only Rose 30%
- Litecoin halving on August 3, 2023, will reduce the block reward to 6.25 LTC.
- Bitcoin is up 78% YTD, and Litecoin is only up 30%.
Litecoin is expected to be halved on August 3, 2023, less than a week, with about 3,574 blocks remaining. After the halving, the Litecoin block reward will be reduced from 12.5 LTC to 6.25 LTC. BTC has risen by 78% since the beginning of the year; despite Litecoin Halving, LTC only rose 30%.
Litecoin, the cryptocurrency created from a fork in the Bitcoin blockchain in 2011, is expected to be halved on August 3, 2023, with about 3,574 blocks remaining until the event. After the halving, the Litecoin block reward will be reduced from 12.5 LTC to 6.25 LTC. This means miners will receive half the amount of Litecoin for each block they mine.
Compared to Bitcoin, Litecoin has faster block generation speed and lower transaction fees. The design goal of LTC is to become a digital currency that users can buy and trade daily. It adopts the same decentralized, open-source, and secure encryption technology as Bitcoin.
Despite the upcoming halving, Litecoin has only risen 30% since the beginning of the year, while Bitcoin has risen by 78%. However, Litecoin has been continuously advancing development and improvement and actively exploring a wider range of application scenarios.
CoinCu previously reported Bitcoin investors should take note of Litecoin’s recent success, as it may provide valuable insights into what’s to come. Litecoin has experienced an almost 90% climb over the past year, partly due to its upcoming supply curb, or “halving,” which Bitcoin will also experience in the coming months.
Litecoin is trading at around $90.46 at the time of this writing, which experienced a slight down of nearly 17% last 24 hours.
With the halving on the horizon, there is speculation about how it will impact the price of Litecoin. While halvings have historically led to price increases for Bitcoin, it is unclear whether this trend will hold true for Litecoin. Regardless, the upcoming halving is an important event for the Litecoin community and one to keep an eye on in the coming years.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.