Next Litecoin Halving Happens In 150 Days, Here’s How It Could Affect LTC Price
2023年3月7日 - 05:30AM
NEWSBTC
According to a tweet posted on Sunday, March 5, Litecoin’s
highly-anticipated halving event is set to take place in the next
150 days. This means that the latest and third halving of Litecoin
cryptocurrency will happen on August 4, 2023. Litecoin halving is a
major event that occurs when the reward for mining LTC transactions
is slashed in half. The event, which takes place once every four
years, reduces the rate at which new coins are produced and thus
lowers the available amount of new supply, even as demand rises.
The purpose of the halving is to preserve the purchasing power of
the crypto asset. Previous Pre/Post Halving Events Hint LTC Price
To Rally Since Litecoin’s launch in 2011, two major halving events
have occurred for the crypto asset. The first one happened in
August 2015, which slashed its block reward from 50 LTC to 25 LTC.
The second one which happened in August 2019, reduced the 25 LTC
reward to 12.5 LTC. The upcoming Litecoin halving which would be
third in history, slated to take place in August 2023, would reduce
the current block reward of 12.5 LTC per block further down to 6.25
LTC per block. Related Reading: Litecoin (LTC) Miner
Enthusiasm Fades Out Despite Recent Upgrade Litecoin halving is an
event to remember because it contributes to LTC scarcity and
deflationary. The number of Litecoin mined per block will continue
to reduce by half, roughly every four years, until the current
supply of 84 million LTC is mined. This is anticipated to occur
sometime around 2144. The previous two consecutive halving events
had contributed to the altcoin’s price surge. A 50% drop in the
number of Litecoin minted resulted in an uptick in the asset’s
value. Based on the past price analysis, the previous two halving
events occurred after a volatile LTC price cycle associated with a
massive price spike, followed by a huge correction, a price
decline, and a recovery to a price surge. After the events,
LTC’s price corrected from its high creating another bottom and
followed it with another huge price rally to a new record high.
Market analysts expect Litecoin price to go through the same
trajectories associated with the 2015 and 2019 halving events.
Litecoin Price Action The halving announcement comes when Litecoin
price is trading low amidst the recent crypto downtrend triggered
by negative news about Silvergate insolvency issue. At the time of
writing, Litecoin is currently trading at $87.99, down 3.13% in the
last 24 hours and 7.70% down in the last seven days. The trading
volume of LTC has been $415,444,930 in the last 24 hours,
representing a 6.50% increase from the previous day, showing a
recent uptick in its market activities. Litecoin reached its
highest price of $410.26% on May 10, 2021, which means the current
price is down 78.60% from its all-time high price. Related Reading:
Here’s What To Expect From Litecoin As Bulls Eye $100 LTC’s current
market cap is $6,372,049,864, meaning that the crypto is ranked #13
among the largest crypto assets by market cap, according to
Coinmarketcap. With a price decline of 7.70% in the last seven
days, LTC is underperforming the global crypto market, which is
currently down 4.90%, while Bitcoin is down by 5%. Featured image
from Unsplash, Chart from TradingView
Litecoin (COIN:LTCUSD)
過去 株価チャート
から 11 2023 まで 12 2023
Litecoin (COIN:LTCUSD)
過去 株価チャート
から 12 2022 まで 12 2023