X

Alexander from Houston

Registered at the crypto broker CEX 7 minutes ago.

» Try CEX too
Do not show again

Some cryptocurrencies occasionally experience halving events, including Bitcoin, Dash, and Litecoin. It has proved to be critical for the sustainability of cryptocurrencies. The primary focus is on the halving of Litecoin which is due to occur in 2023.

Litecoin (LTC) was launched on October 2011 with a total market supply of 84 Million LTC. The coin has a halving schedule of 840,000 blocks or approximately four years which cuts the rewards miners receive by 50%. Halving is a supply control mechanism that helps reduce the supply of new LTC coins whilst essentially boosting the value of LTC that can be mined. The blocks are mined every 2.5 minutes.

A quick history lesson

Since its launch, Litecoin has experienced two halving events, with the first happening on 25th August 2015. During this halving event, the block subsidy was reduced from 50 LTC to 25 LTC. The second halving event occurred on 5th August 2019 and saw the block mining reward reduced to 12.5 LTC.

According to Litecoin’s halving website, the next halving event is projected to take place around 3rd August 2023, reducing the block reward from 12.5 LTC to 6.25 LTC. The last halving of this proof-of-work currency is estimated to happen around the year 2142. The year will see Litecoin reach its maximum supply. Currently, the coin has a circulating market supply of slightly over 72 Million and average daily mining rewards estimated at 7,200 LTC.

Analysis of past halving events of Litecoin and its Impact

The historical price tendency of Litecoin before and after halving shows a pattern where LTC experiences a volatility period before striking a bottom, then a price rally period that pumps the price to a local top just before the halving event. A price correction is usually experienced after halving takes place before a post-halving curve where the value of Litecoin increases exponentially.

Several analysts predict a similar price trajectory as seen in the previous two halving events. In the weeks before the first halving event which dates back to August 2011, Litecoin established a local top of around $10 and in the August 2019 halving, LTC price hit near $340 in June. Data shows that Litecoin hit bottom almost six to seven months before the price surges nearing the halving events.

Rating: 9.33/10
Supply: 69,924,556 / 84,000,000
Release date: October 13, 2011

Description: Buy Litecoin while prices are low and get in before the bull swing.

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.


Current price trends of Litecoin

Analysts predict a more or less similar pre-halving bottom structure to 2015 and 2019, where the lows were higher post-halving than pre-halving lows. There has been a steady rally in Litecoin’s price since the beginning of the year. Litecoin has achieved over 130% rebound since bottoming in June 2022 and is speculated to rally on up to more than 200%, which will see the coin’s price surpass the $100 mark.

Market watchers expect the price of LTC to hit highs of up to $180 by July before August’s halving event. With 86.08% of Litecoin already in supply, the coin may undergo a more successful post-halving rally than before.

The future of Litecoin as it approaches halving

Generally, 2023 is expected to be a bullish year for the cryptocurrency sector. Litecoin was modified to be a deflationary currency that has the potential to leverage against inflation. If the 2023 halving event takes a similar pattern as the two previous halving events, Litecoin may experience a breakout phase in the months leading to 2024, thus coinciding with Bitcoin’s halving that is scheduled to take place in the first quarter of 2024. Litecoin has a limited market supply, and halving its emission will create more scarcity of the coin.

The scarcity of LTC, alongside its popularity as the most preferred crypto for payment purposes, may generate a price increase if the coins demand remains constant or increases. Litecoin currently accounts for more than 25% of BitPay’s transactions. LTC has also recently surpassed Shiba Inu (SHIB) in total market capitalization and ranks highly in several price-tracking websites, including Crypto Lists.

There are slightly over 200 days for the next Litecoin halving that will have LTC’s block reward reduced from 12.5 to 6.5. The event is predicted to be on 3rd August 2023 after over 116,000 blocks are mined. The next after this halving event is after another 840,00 blocks are mined which will see its block reward reduce even further. The 2023 LTC halving is highly anticipated by many in the crypto industry and its possible impact on the industry.

by Our Certified Author
Litecoin Newsflash
    Sign up without KYC on LTC Casino and play Gold Gold Gold!Sign up without KYC on LTC Casino and play Gold Gold Gold!
    Monday, 4 Nov 2024 1:48 pm
    On this fine Monday afternoon, one thinks to oneself: "how could I liven things up a little." Indeed, when a nice new slot game lands on our review pile such as Gold Gold Gold (review) from the lads over at Booming Games, it would be remiss not to try it out on one of the top bitcoin casinos we have at our disposal. On LTC Casino you can sign up completely free of any kind of KYC and get to grips with this fruity variant where there's a real chance to bag up to 2,000x your bet. Booming Games don't do things by halves and you're guaranteed top quality fun. Head over to LTC and see what you...
    Read the full newsflash


    Play Lucky Win Spins X on KYC-free LTC Casino now!Play Lucky Win Spins X on KYC-free LTC Casino now!
    Friday, 1 Nov 2024 1:08 pm
    Sometimes there comes a weekend when you've got an itch to scratch, and sometimes that itch is a crypto casino shaped one. But not just any casino, a no-KYC casino (see full list). Specifically, one without any KYC at all that allows you to deposit, withdraw and more without any kind of verification. Also, one that's trusted by Crypto Lists and has been a firm favorite of our readers for over a year and a half. That can only mean one: LTC Casino (review)! And what makes it special is that there's a new game on there called Lucky Win Spins X (reviewed here) from 1Spin4Win game developer. It's a sequel to 2023s hit of almost the same name (minus the 'X'). You've got a bonus buy feature and loads more and we tested it today and had a great time. Check out LTC here and see if you enjoy the game as much...
    Read the full newsflash


    LTC Casino: Best among all anonymous casinos in Oct, 2024LTC Casino: Best among all anonymous casinos in Oct, 2024
    Saturday, 26 Oct 2024 12:11 pm
    There have been many new launches lately, some good ones and many bad ones. Among the anonymous crypto casinos there is one really good one: LTC Casino (review). You can enjoy big tournaments, always the latest games from the best developers and never any KYC ever asked. Note: You can only deposit with crypto, so it's not for fiat lovers. Visit LTC Casino today to see a site with 100% uptime and that's...
    Read the full newsflash


    Anon sign up and no KYC on a 'LTC' crypto casinoAnon sign up and no KYC on a 'LTC' crypto casino
    Thursday, 26 Sep 2024 6:00 am
    Do you like playing on crypto casinos without KYC? How about a casino where you can play from anywhere you like without having to worry about VPN usage? Well you're gonna love LTC Casino (review) as it's got all the above and tons of crypto deposit options too. Amazing too, in that it doesn't even track your IP address or log it either. It's completely private once you've signed up using an email and chosen password. Easy peasy lemon squeezy. Try it here and we guarantee you won't be disappointed!...
    Read the full newsflash


    No KYC or withdrawal verification at all on LTC CasinoNo KYC or withdrawal verification at all on LTC Casino
    Monday, 23 Sep 2024 6:52 am
    Have you heard about LTC Casino (review)? Perhaps you have, perhaps you haven't, but one thing's for certain and that's that you certainly should have if you're anyway inclined towards a fully anonymous casino experience. That's all there is to it: register without any personal info, deposit without any KYC and withdraw you winnings without any kind of verification. Sweet! Try it now and see what we...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
Keep up to date with
 

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
exclusives.
* indicates required
CryptoLists.com
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top