Litecoin Halving Dates: When Is the Next LTC Halving?

The next Litecoin halving is expected to occur on August 3, 2023. It is worth noting that the exact date and time might differ depending on the speed at which new Litecoin blockchain blocks are produced.

Created by Charlie Lee in October 2011, Litecoin is often considered as the “silver to Bitcoin’s gold” due to its similarities with Bitcoin, the first and most well-known cryptocurrency. One of the key features that sets Litecoin apart from Bitcoin is its faster block generation time. While Bitcoin takes around 10 minutes to produce a new block, Litecoin’s block time is approximately 2.5 minutes. 

A Litecoin halving is a predetermined event in Litecoin’s protocol where the block reward for miners is reduced by half. It is a part of Litecoin’s monetary policy designed to ensure the controlled supply of new coins entering the market.

In this article, we are going to examine past Litecoin halvings, what will happen to LTC after the next halving, and when is the final Litecoin halving expected to take place.

When is the next Litecoin halving?

The next Litecoin halving, the third one so far, is projected for August 3, 2023, at 5:30 UTC. The halving will occur at the block height of 2,520,000. At the time of this writing, we are at the block height of 2,516,934, about 3,000 blocks removed from the halving event.

Litecoin halvings are a deflationary event that can potentially lead to an increase in the price of Litecoin. However, it is important to remember that the price of Litecoin is influenced by a number of factors, and there is no guarantee that the price of Litecoin will increase after a halving.

After the next halving, mining rewards will be reduced from 12.5 LTC per block to 6.25 LTC per block.

What is Litecoin halving?

Litecoin halving is a recurring event that occurs approximately every four years on the Litecoin network. This event is specifically programmed into the Litecoin protocol and has significant implications for the cryptocurrency’s supply and the rewards received by miners.

During Litecoin’s halving, the number of LTC mined per block is reduced by half. In other words, the rewards that miners receive for successfully validating transactions are cut in half. This reduction in block rewards aims to control the inflation rate of Litecoin and create a predictable scarcity that emulates precious metals like gold.

Litecoin halving dates history

The first Litecoin halving took place in 2015 when the block reward was reduced from 50 LTC per block to 25 LTC per block. The second halving took place in 2019 when the block reward was reduced from 25 LTC per block to 12.5 LTC per block.

In the following sections, we will examine LTC’s price movements before and after each halving. But before we get started, here are the dates of past and projected dates for future Litecoin halvings.

*Estimated dates

First Litecoin halving (August 25, 2015)

The first Litecoin halving took place in 2015, roughly 4 years after the mainnet launch in 2011. In the months preceding the first halving, Litecoin’s price increased dramatically, from $1.40 in May 2015 to a peak of $8.73 in July. However, the price retraced in the weeks before the halving and eventually dropped to $3.05 on the day of the halving, allowing investors to buy Litecoin at a heavy discount compared to just a few weeks ago.

Second Litecoin halving (August 5, 2019)

Three months before the second Litecoin halving in August 2019, Litecoin was changing hands at roughly $75. The price saw a massive increase in June, having reached a peak of $142. However, like in the first halving, the price of LTC dropped in the weeks before the second halving, ultimately settling at roughly $105 on the day of the halving.

What will happen to Litecoin after halving? LTC halving prediction

If historical price data is any indication, Litecoin will likely drop in value after the next halving. In the previous two halvings, Litecoin’s price rallied in the months leading up to the halving events, and eventually decreased in the weeks leading up to the halving and continued to plummet in the months after each halving.

Litecoin is expected to lose value after the next halving, just like in previous halving cycles.

According to our Litecoin price prediction algorithm, LTC is expected to reach $69 by the end of the year, which would be a roughly -26% decrease compared to the current price of $91.45. It is worth noting that past price movements should not be considered as indications of future performance. While they can help us gain insight into market trends, they should be taken with a grain of salt.

If you want to learn more about the Litecoin halving 2023 prediction, check our video on the topic below.

What year will Litecoin halving stop?

The last Litecoin halving event is expected to occur in 2143, at a block height of 27,720,000. By then, the mining rewards will drop as low as 0.00000000582 LTC. After the last halving, miners won’t get rewarded for mining new blocks but only for securing the network by supporting the Proof-of-Work (PoW) consensus operations.

Coincidentally the last Bitcoin will also be mined at roughly the same time, with current projections pointing to 2141 as the likely date for the last BTC to be mined.

The bottom line: The next Litecoin halving is expected to occur on August 3, 2023

The next Litecoin halving is mere days away. At this point, it seems that price movements in the upcoming halving cycle will resemble previous ones – LTC peaked at $112 in July and has since retraced to roughly $90. 

Meanwhile, the next Bitcoin halving is projected to take place in April 2024. It is expected to bring halving rewards down from 6.25 LTC to 3.125 LTC.