• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin mining chips

    Bitcoin mining chips scarcity: Samsung planning to Bankroll chip making plant

    Bitcoin whale Bitcoin US Senator Circle CEO Bitcoin adoption BitMEX Mobile app Max Keiser Bank Crisis Bitcoin price Nasdaq listed MicroStrategy

    Bitcoin whale MicroStrategy invests more in Bitcoin during dip

    Polkadot price

    Polkadot price prediction: DOT to rise to $20.00

    Litecoin price prediction

    Litecoin price prediction: LTC rebounds after failing to reach $120

    Bitcoin mining

    Bitcoin Miners in China hit with dearth of chips

    Ripple Price Prediction 22.01.

    Ripple price prediction: XRP rejecting further upside at $0.31

    Ethereum price

    Ethereum price prediction: ETH to retest $1,400 resistance

    UK police appoint Komainu to custody seized cryptos

    UK police appoint Komainu to custody seized cryptos

    Bitcoin Price Prediction

    Bitcoin price prediction: BTC/USD tested $30k support before moving higher

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin mining chips

    Bitcoin mining chips scarcity: Samsung planning to Bankroll chip making plant

    Bitcoin whale Bitcoin US Senator Circle CEO Bitcoin adoption BitMEX Mobile app Max Keiser Bank Crisis Bitcoin price Nasdaq listed MicroStrategy

    Bitcoin whale MicroStrategy invests more in Bitcoin during dip

    Polkadot price

    Polkadot price prediction: DOT to rise to $20.00

    Litecoin price prediction

    Litecoin price prediction: LTC rebounds after failing to reach $120

    Bitcoin mining

    Bitcoin Miners in China hit with dearth of chips

    Ripple Price Prediction 22.01.

    Ripple price prediction: XRP rejecting further upside at $0.31

    Ethereum price

    Ethereum price prediction: ETH to retest $1,400 resistance

    UK police appoint Komainu to custody seized cryptos

    UK police appoint Komainu to custody seized cryptos

    Bitcoin Price Prediction

    Bitcoin price prediction: BTC/USD tested $30k support before moving higher

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Litecoin News

Litecoin price dwindling with hash rate: LTC down by $5

Aroosa Nadeem by Aroosa Nadeem
September 11, 2019
in Litecoin News
2 min read
Litecoin price dwindling with hash rate: LTC down by $5 1
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

Litecoin price is dwindling since the Litecoin hash rate is falling down drastically after the halving event. The cryptocurrency is suffering due to the poor hashrate, a sign of miners jumping ship.

While the Litecoin LTC price is down by five dollars ($5) in the past twenty-four hours (24h) from seventy-three dollars ($73) to sixty-eight dollars ($68) at the time of writing.

The summer of 2019 took Litecoin for granted giving it a swing to the top at the beginning of the warm season while drowning it in agony as August 5 approached when halving took over, the frenzy died out leaving no bulls in the market to support LTC.

RelatedPosts

Litecoin price prediction: LTC rebounds after failing to reach $120

Litecoin trend analysis: LTC/USD uptrend under threat as $130 support breaks

Litecoin price prediction: LTC to fall to $120

Litecoin price prediction: LTC to $170 next, analyst

Litecoin price dwindling with hash rate: LTC down by $5 2Litecoin price chart by Trading View

Low hashrate effects on Litecoin price

Litecoin price wasn’t done any favors when the value per block halved from twenty-five (25) LTC to twelve (12.5) LTC.

Though Litecoin price spiked to one hundred and forty dollars ($140) it was later revealed that there wasn’t much hype; and more importantly, support for LTC on August 5. LTC saw the price come down to seventy-one dollars ($71.28) at closing.

Litecoin price has dropped to sixty-eight dollars ($68.07) at the time of writing while the twenty-four (24) hour volume sums up to be two billion dollars ($2,669,965,420). The total market cap for Litecoin is valued at four billion dollars ($4,379,690,665).

The hash rate for Litecoin escalated from five hundred and twenty-three (523) TH/s (Terahashes per second) to two hundred and ninety-five TH/s. That accounted for thirty (30%) percent of the mining power that the company lost in August alone.

As time passes, lesser crypto coins remain hidden from the world- this fact alone is an alarming one when compared with the hash rate that’s gone down. Litecoin’s liquidity and fame are all that is keeping it afloat in these desperate times.

Litecoin was forked from Bitcoin. Though it does share the same mining algorithm as Tenebrix.

— Charlie Lee [LTC⚡] (@SatoshiLite) September 6, 2019

 

The Bitcoin network is nearing the 2020 block halving. This will not prove good if the patrons decide to give up on BTC. The Bitcoin Network currently runs near one hundred (100) TH/s which is a big deal, but when rewards are halved to six (6.25) BTC per block, more computational power will be required.

The market hasn’t been in full bloom with Litecoin miners yet. The L3 miner doesn’t cut it when it comes to performance to power consumption ratio. While on the other hand, BTC miners are on the house from the Antminer lineup.

Litecoin is not dead by a longshot in the mining department, and even with the current gear, the returns will not drown miners in debt.

Litecoin has been receiving criticism due to lack of innovation in the system. While every blockchain has made efforts to further their prospects Litecoin Network has been stagnant.

With other altcoins as Verge (XVG) being marginally profitable to mine- are still not the that great. The returns aren’t hefty, and while that’s not enough to convince miners to lay off of them, ninety-eight (98%) of miners integrated with Scrypt algorithm cracking hardware are finely tuned for Litecoin.

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 Posts

Litecoin price prediction
Litecoin News

Litecoin price prediction: LTC rebounds after failing to reach $120

January 22, 2021
Litecoin trend analysis LTCUSD uptrend under threat as $130 support breaks
Litecoin News

Litecoin trend analysis: LTC/USD uptrend under threat as $130 support breaks

January 22, 2021
Litecoin price
Litecoin News

Litecoin price prediction: LTC to fall to $120

January 21, 2021

Follow Us

  • 40.6k Fans
  • 8.3k Followers

Latest News

3 Great Places to Buy Bitcoin In 2021 3

3 Great Places to Buy Bitcoin In 2021

January 23, 2021
Bitcoin mining chips

Bitcoin mining chips scarcity: Samsung planning to Bankroll chip making plant

January 22, 2021
Bitcoin whale Bitcoin US Senator Circle CEO Bitcoin adoption BitMEX Mobile app Max Keiser Bank Crisis Bitcoin price Nasdaq listed MicroStrategy

Bitcoin whale MicroStrategy invests more in Bitcoin during dip

January 22, 2021
Polkadot price

Polkadot price prediction: DOT to rise to $20.00

January 22, 2021
Litecoin price prediction

Litecoin price prediction: LTC rebounds after failing to reach $120

January 22, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 4

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.