Bitcoin
$ 30,305.00 0.96%
Ethereum
$ 2,062.48 1.98%
Solana
$ 53.13 1.60%
Dogecoin
$ 0.087300 0.54%
ApeCoin
$ 8.30 3.04%
STEPN
$ 1.48 4.97%
Terra
$ 0.000182 4.76%

Litecoin may get a kick boost with the latest block mine

litecoin may get boost with latest block mining

Litecoin is a Bitcoin fork on the brink of getting a block reward reduction event. The main goal of this block reward reduction event is to mining token difficult.

The result this will have on the market is that Litecoin’s value will spark up. Since Litecoin is a in its core a Bitcoin, many concepts applied to Bitcoin are also tried on it. Halving is one of them. Halving reduces the miner’s profit that he gets for mining.

This, as a result, reduces its rate of issuance. Halving is due to occur every four years according to current rates. The inflation rate will be affected as well because of the reduction in future supply increases.

As of now, Litecoin has only been halved once. The very first halving event occurred on August 26, 2015. This had a positive impact on the market valuation of Litecoin.

Litecoin was noticed to be experiencing an increase worth twenty-two dollars ( $22.54) on 7th of December 2018. Since that time Litecoin has touched the price mark of ninety-nine dollars ($99.43)

This halving event is also met with scrutiny which is not rare ass the past halving event faced it too. Despite the price volatility of Litecoin before or after the halving, it has been competing just fine against other cryptos over the past eight years.

Charlie Lee is the creator of Litecoin, and he made a tweet showing his optimism for Litecoin.

At the moment Litecoin stands at the fifth position by market capitalization. It has also shown a zero point six percent increase (0.62%) over the course of twenty-four hours.

Litecoin has a market capitalization of over four billion dollars ($4.49Billion) with a twenty-four-hour volume of over two billion ($2.63B).

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

Related News

Hot Stories

Ethereum wipes out $8.10B while eagerly awaiting 'The Merge'
Crypto exchanges are relisting LUNA after the crash
Michael Saylor says market crash will benefit Bitcoin
Shiba Inu price analysis: SHIB shows bullish potential at $0.00001196
Bitcoin price analysis: BTC rejects upside at $30,000, another drop overnight?

Follow Us

Industry News

Balenciaga U.S. stores to accept BTC and ETH starting June 2022
BTC Pizza Day is celebrated amid crypto crash
CV VC launches Africa-focused blockchain fund
SWIFT announces plans to test CBDCs interoperability
Terra admits to facing technical issues in resuming LUNA and UST transfer