On August 2, Litecoin block reward will decrease from 12.5 LTC to 6.25 LTC.
After the halving, cryptocurrency price fluctuations are expected.
A cryptocurrency halving is an event that usually has a significant impact on the market. Today, on August 2, 2023, the Litecoin (LTC) halving took place, which means that the profit for miners received for mining each block is halved.
In a nutshell, miners earned from 12.5 LTC to 6.25 LTC. According to https://www.litecoinhalving.com/, the next halving will take place on July 30, 2027, which will reduce the reward to 3125 LTC. At the time of writing, there are 839,933 blocks left to mine.
These drawdown events are an opportunity for traders. And the fact is that during halving, prices for digital assets in most cases behave predictably.
Litecoin halving and opportunities for traders and miners
As with Bitcoin, Litecoin Halves Mining Rewards Every Four Years per block. The first halving of the altcoin took place on August 25, 2015, when the reward was reduced from 50 LTC to 25 LTC. The second one took place on August 5, 2019 and the reward was 12.5 LTC.
How long will these cuts last? According to the Litecoin halving data, until 2142, when the block reward will be zero and there will be no more Litecoin mining.
After the halving in August 2023 Litecoin supply will decrease, which can lead to short-term price fluctuations. This could be a good opportunity for those looking to invest as they have the opportunity to make money from LTC price fluctuations.
As of August 2, 2023, data from CoinEx shows that LTC is priced at $87.70 with a total market capitalization of $6.84 billion. Over the past month, the price is down 0.41% to $113.47 on July 3 before turning around. below.
As the halving approached in early July, the price of LTC increased markedly. However, it did not maintain the bullish momentum for long and began to decline.
If you want to invest in LTC, CoinEx will help you
For miners, halving may be perceived as a negative, but in fact it is good for the market. This event helps to stabilize the value of the asset and maintain its deficit. As a result, the cryptocurrency grows in price, and miners receive a more attractive return on investment.
If we take Bitcoin’s past halvings as a benchmark, which contributed to its long-term growth and awareness, then Litecoin could also be a great opportunity for investors, regardless of current market performance.
Now it is important to consider the risks of investing in cryptocurrencies as they are very volatile assets. Therefore, it is best to obtain accurate data and analyze it objectively in order to reduce risks and avoid disasters.
In this case, a useful tool is the function Market Review CoinEx. With it, you can get a wide variety of real-time cryptocurrency data, including order distribution, coin ratings, and others.
In this way, traders can comprehensively monitor the market in real time, analyzing prices and trading volumes, which allows you to identify trends. The result is the ability to make trading decisions based on reliable information, which reduces the associated risks.
During and after the halving, any user can log into the CoinEx website to track LTC price fluctuations and trade status.
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