THE Next Litecoin Halving Event will be held on Wednesday 02 August next. There will occasionally be a halving of the reward from 12.5 LTC per block to 6.25. Is expected after this event a big upheaval in the price of litecoin and in the cryptocurrency market in general. However, two months from the Litecoin halving, things seem to be accelerating. Explanations!
Litecoin pre-halving performance
Fiduciary currencies can suffer from inflation until they massively affect American, Turkish, Argentinian, Zimbabwean households… but not cryptocurrencies. There is indeed a solution to their devaluation : the halving. You will find ample explanations in this presentation by our colleague on the prospects for the LTC and BTC halvings for this year 2023.
In a recent publication, NewsBTC made an inventory of Litecoin. In it, the crypto media talked about:
- increased network activity (meaning increased rising investor interest);
- expanding the user base;
- there multiplication of the number of active Litecoin addresses ;
- etc
” Litecoin had a booming month. The total number of addresses with a balance has grown more intensely since the end of April and we now have almost 8.8 million LTC addresses with a balance! »
” With an impressive 7.09 million addresses holding balance, Litecoin is poised to hit a new ATH in terms of addresses with balance. As a widely used payment cryptocurrency, the number of $LTC addresses easily exceeds that of other notable assets such as Cardano, Dogecoin, and Polygon. »
If we refer to data from IntoTheBlock, the closer the LTC halving approaches, the more Litecoin gains in popularity.
Towards a rush of important players?
While whales have never ceased to hover around Ripple’s XRP as Judge Torres’ verdict approaches, the Litecoin halving could also produce the same effect in the near future.
” If this trend of increasing volume on the chain continues, it will be a strong sign that some major players are starting to position themselves on their LTC investments in anticipation of the halving. says Santiment.
But despite this momentum, the price of LTC did not show a significant increase. Last Tuesday, it traded at $90. Yesterday, it lost 2.2% of its value to cross again the bar of 92 dollars today.
Note also the existence of price rise predictions for Litecoin. Charlie Lee, its founder, and the Blockchain analysis platform Santiment are very optimistic about its future.
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