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The Litecoin halving is supposed to happen in 70 days, and we're not talking about it as much we maybe should.

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by COINS NEWS 18 Views

The Litecoin halving is supposed to happen in 70 days, and we're not talking about it as much we maybe should.

Litecoin halving is on countdown.

As many of you know, Litecoin is one of the earliest cryptocurrencies to enter the market. It was lanunched in 2011, and since then Litecoin network was never offline, not even the upgrades/updates. After more then a decade on a market, Litecoin is on position #13 based on market capital with the price of around $84.74 at the time of writing.

It is a peer to peer currency that enables almost instant, near zero cost payments, it is an open source, decentralized currency.

Only 84 million Litecoins produced.

Creator of Litecoin, is Charlie Lee, published on Reddit, that he is selling all of his LTC because he has so much impact on the network, price etc.

"Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s not stored in a physical Litecoin. (I do have a few of those as collectibles.)

Litecoin, really is a great project, great network and you can read more about it by quick google search. So far it is holding strong, and if we take a look how many top10-20 coins from 2011 are gone, we can understand why.

When LTC was launched, block reward was 50 Litecoins. Right now it is 12.5 LTC and afther the next halving in August it will be reduced to 6.25 LTC.

Date of halving Block reward
October 7, 2011 50 LTC
August 25, 2015 25 LTC
August 2, 2019 12.5 LTC
This year in August 5 6.25 LTC

As any halving, this one can also make an impact to the price of LTC.

The difference between BTC and LTC halving is that people are saying that "usually" you cash out before the halving event.

If we take a look at it historically we can see why are they saying that.

Litecoin's first halving event

Litecoin's second halving event

Two times after Litecoins halving event, the price was not moving a lot. Actually we can see that the price would fall. It is almost as halving does not have a lot of impact on LTC.

That is why predicting what can happen next is ungrateful.

Litecoin does not have an impact on the crypto as BTC. It also has more coins in circulation and in overall.

Litecoin's price during the years

It is possible that LTC price depends on previous trends, an halving won't have a lot of impact on it. That is just my opinion, based on my research, feel free to share yours.

submitted by /u/middlemangv
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