Less Than 78 Days Before Litecoin Halving, Scheduled To Be Aug 3

Key Points:

• The next Litecoin Halving is scheduled for August 3, 2023.
• Cryptocurrency experts have revealed that LTC is actively recovering ahead of the halving.
• The long-term value of LTC is predicted to increase as supply decreases.

According to Litecoin Halving data, the expected Litecoin (LTC) block reward halving time is August 3, 2023, and to 44,940 blocks, less than 78 days will go from 12.5 LTC to 6.25 LTC.

Litecoin has seen significant growth over the past 30 days. Although currently on a downtrend, the project has gained almost 20% in the monthly rankings. This cryptocurrency strongly correlates with Bitcoin, which explains its recent growth.

Litecoin will soon have a few upgrades to the network. According to an official post, LTC upgrades include Partially Signed Bitcoin Transactions (PSBT), P2P support for Light Client, Viewing Key, Payment Proof, and Descriptor Wallet.

While the upcoming upgrades are all critical, the vital development around LTC is the halving that will occur on August 3, 2023. The halving is a networking event that happens every four years.

Most investors expect the Litecoin price to increase after the halving event, as the number of rewards will decrease, thus increasing demand. LTC price has recorded a gain of more than 6% in the past 24 hours and is currently trading at $93.0.

Litecoin $LTCUSD has surged above LMACD 1 million, while BTC and ETH are lagging behind. This is indicative of a more extensive timeframe momentum shift. Notice specifically when the histogram turns from red to green and vice versa.

Although Litecoin has recovered before Halving, to confirm the next bull run, many other factors need to be evaluated.

Historically, halvings have resulted in prices skyrocketing as supply decreases, leading to deflation. Since its introduction in October 2011, Litecoin’s supply has been cut in half twice. Its block reward was cut from 50 LTC to 25 LTC during the first halving, which took place in August 2015. In the second case, which occurred in August 2019, the 25 LTC reward was reduced to 12.5 LTC.

Each LTC price halving is usually very chaotic. This includes a significant price pump, a corresponding correction, a price low, and a local rally to the top.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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