The Litecoin (LTC) Halving has been successfully completed, reducing the block reward to 6.25 LTC. A comparison with previous Litecoin halvings reveals mind-blowing numbers.
A significant increase in key indicators
On Wednesday, the flagship event of the crypto-sphere took place: the Halving of Litecoin. Now, miners on the network will only receive 6.25 LTC per mined block.
Investors were mainly expecting large fluctuations in the price of Litecoin (LTC) due to this event. However, the results disappointed some of them. Despite this, a comparison of some key metrics between the 2019 Litecoin Halving and the 2023 Halving reveals staggering numbers.
Indeed, IntoTheBlock’s tweet shows that all numbers have at least doubled. The number of active addresses increased from 127,000 to 255,000 between the two events. One of the most remarkable figures is the daily trading volume, which increased from $330 million to $1.89 billion. However, the stable price of Litecoin (LTC) around $91 during the two Halvings is causing concern among investors.
Litecoin (LTC) price down!
Despite this historic event, the price of the LTC token continues to fall. Since the opening of the session on Wednesday, Litecoin (LTC) has recorded an 8% decline. Looking at the chart provided by TradingView, no bullish reaction during the Halving is visible; on the contrary, the price fell. Currently, this cryptocurrency is trading around $85.5.
This decline took investors who were expecting a rise by surprise. Indeed, logic dictated that reducing the generation rate of Litecoin would significantly reduce the tokens available on the market. Thus, the fall in the price could be explained by massive profit taking by the holders.
It is also relevant to note that the price reaction of Litecoin (LTC) during the Halving in 2019 was similar to that of 2023. At the time, the token even lost more than 50% of its value before returning to the bottom. rise. Therefore, it is possible to envisage a similar scenario before the next bull-run on Litecoin (LTC).
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