Litecoin Surges Over 40% in 2 Weeks
- Litecoin (LTC) has climbed over 40% against the U.S. dollar in the past two weeks after being listed on the crypto exchange EDX.
- LTC is on the verge of a reward halving, with only 30 days remaining until its block reward subsidy decreases.
- BCH and LTC have outperformed many other digital assets in terms of price increase over the past fortnight.
- LTC has risen by 13.7% in the span of 30 days and gained 119.7% year-to-date, propelling it into the top ten ranks of the crypto economy.
- LTC currently ranks 10th on coingecko.com and 9th on coinmarketcap.com.
LTC’s Market Data and Trading Volume
- LTC is currently being traded between $110 and $114 per unit, with a market valuation slightly exceeding $8 billion.
- LTC ranks seventh in terms of global trade volume, with $1.274 billion traded within a 24-hour period.
- Coinbase is the most active exchange for LTC trades, with the most popular trading pair being tether (USDT).
LTC’s Hashrate Reaches an All-Time High
- LTC’s hashrate has increased significantly, reaching 760 TH/s compared to 660 TH/s on June 19.
- On June 28, 2023, Litecoin’s hashrate reached a record-breaking 958.36 TH/s.
- Approximately 22 mining pools are involved in LTC mining, with Viabtc contributing the highest hashrate of 254.91 TH/s.
30 Days Until the Next Litecoin Halving
- The Litecoin network is preparing for a reward halving expected to occur in 30 days, reducing the subsidy from 12.5 LTC to 6.25 LTC.
- There are currently approximately 73,280,183 LTC in circulation, with 10,717,762 blocks remaining until the block subsidy ceases.
- The top 100 holders control approximately 38.58% of LTC’s entire supply.
Hot Take: Will LTC Sustain its Growth?
With its recent surge in price, increased hashrate, and the upcoming halving, the future of LTC remains uncertain. Historically, LTC has experienced price surges leading up to each block reward halving. However, its current value is still significantly lower than its all-time high. It will be interesting to see if LTC can maintain its momentum and solidify its position in the top ten largest market caps.
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