Litecoin (LTC) fans are eagerly anticipating the upcoming halving occasion scheduled for Wednesday, August 02, 2023. This occasion is predicted to reflect the Bitcoin halving occasion that usually triggers a recent bull market.
In roughly 95 days from right this moment, the Litecoin community will cut back the block reward to roughly 6.25 LTC items at a block peak of two,520,000. Presently, Litecoin miners have rewarded 12.5 LTC items for each block they mine. At Genesis block, Litecoin miners obtained 50 LTC items, however the first halving occasion occurred on August 25, 2015, and lowered the reward to 25 LTC items.
With a hash price of about 675.42 (TH/s), Litecoin miners are distributing freshly minted cash to greater than 8 million holders, in response to on-chain metrics.
Litecoin’s social exercise quantity on Twitter has considerably elevated year-to-date, as per stories. Curiously, the optimistic Litecoin mentions on Twitter are nearly retesting the highs of the 2021 bull market. The upcoming halving occasion is believed to be the first motive for the rise in social exercise, and if historical past repeats itself, it could set off one other bull market.
As of now, Litecoin is buying and selling at round $90, which marks a 26% enhance year-to-date. In line with combination information supplied by Coingecko, it has a market capitalization of $6.1 billion and a 24-hour buying and selling quantity of roughly $1 billion.
Litecoin’s value has consolidated across the similar zone since reaching its all-time excessive through the 2017/2018 bull market. Nevertheless, with the upcoming halving occasion, Litecoin’s value is predicted to interrupt out and probably attain a brand new all-time excessive. Because the 2017/2018 bull market, Litecoin has not been concerned in one other main bull market.
