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This important event is not only about Bitcoin regularly. The cryptocurrency Litecoin (LTC) also halves every four years. Then the block reward for the miners is halved and thus reduces the amount of LTC emitted. Investors are expecting higher prices in the following months. But will that happen this year too?
Litecoin (LTC) started in 2011 as one Bitcoin copy, which wanted to be better in many ways: faster, easier to update, more scalable. At the same time, this blockchain project borrowed much of Bitcoin’s code. The consensus mechanism also makes proof of work and semi-regular.
Just 30 days until the Litecoin Expansion!!
— Litecoin (@litecoin) July 3, 2023
The principle is similar to that of bitcoin halving. Litecoin in half every 840,000 blocks instead – with Bitcoin it is every 210,000 blocks. Then the block reward will be halved and the miners will only receive half of the new LTC for their work. The supply is becoming scarcer, the quantity in circulation is growing more slowly.
Investors’ expectations for the half
Bitcoin half-life is always celebrated by the community and investors as a big event. Because a few months later, the course has always increased and continued the next highest ever. There is a fierce debate about whether this is just a “self-fulfilling prophecy” and whether it always has to happen like this. This has not been the case with Litecoin until now.
The first Litecoin halving took place in August 2015. At that time, the block reward was expanded from 50 LTC per mined block to 25 LTC. There was no increase in the price of Litecoin during this time. In the following months and into 2016, the price trend also declined.
The second half event showed a similar development. In August 2019, the block reward was halved from 25 LTC to 12.5 LTC. Meanwhile, prices fell, and saw only a modest rise at the start of 2020. Litecoin’s all-time highs tended to follow broader market activity, with Bitcoin still the dominant factor.
The third half and the next half will be for the August 02, 2023 looking forward to. At block 2,520,000, the block reward is halved from 12.5 LTC to 6.25 LTC. What does that mean for investors? The correlation between upcoming rallies and the halving is less clear than with Bitcoin. However, the laws of the market apply here: a tighter supply meets the same or increased demand. And that could raise prices.
Tighter supply meets the growing interest
For a long time, in the early years of the crypto world, Litecoin was considered than the money with Bitcoin gold. But over time, this star fell, and other altcoins gained more attention. That has now changed. Litecoin was able to record a significant increase in price and also had some valuable updates.
Since the low level in June 2022, when the price of Litecoin was $44.71, the price has improved to $106 at present. That amounts to one An increase of 137%.. Above all, last week’s price development was impressive. During the launch, the price of Litecoin rose by 21%.
The update could be one of the reasons for the growing interest MimbeWimble Extension Block (MWEB) be. This feature has been online since May 2022 and allows senders to hide their addresses. This turns Litecoin into a privacy coin like Monero or Zcash. In addition, the regulators did not target the Bitcoin alternative, in contrast to cryptocurrencies like Ethereum, Cardano and other smart contract platforms.
So the half event can be seen as another piece of positive news, which one continue to fuel the Litecoin course could. However, historical data shows that an immediate price increase is not 100% to be expected. Investors can be excited, but they shouldn’t set their expectations too high.
Meme coins are still another option
So-called “dinosaur coins” are experiencing a resurgence right now, and Litecoin is also benefiting from it. At the same time, meme coins are still an issue. These are cryptocurrencies that Popular internet memes established and grown from the attention of online communities. An example would be Thug-Life (THUG). Thug-Life is currently on pre-sale, THUG can be purchased for $0.0007.
who call themselves “base meme is baller” entitled cryptocurrencies have big plans. After the pre-sale, there will be listing on decentralized exchanges (DEX), Aidrop campaign and listing on various exchanges. Later, a burn will reduce the THUG supply, which should increase the value of each individual THUG. Even ChatGPT thinks THUG coin has some potential. However, there is always a risk with these meme coins, which are based on hype levels.
Last updated on July 4, 2023
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