Halving Unshaken: Litecoin Network Sees Third Reduction in Rewards
The Litecoin (LTC) blockchain recently experienced its third block reward halving, reducing the reward from 12.5 LTC to 6.25 LTC. Here are the key points:
- LTC miners generated 7,200 new LTC units daily before the halving, which has now been cut to 3,600.
- LTC prices have decreased by over 4%, but remained stable with a minor 0.2% increase throughout the previous week.
- LTC miners’ daily rewards have fallen from roughly $656,919 to $331,946.
- Litecoin’s annual inflation rate has dropped from 3.64% to the present figure of 1.80% and is expected to decline further to 0.84% before the next halving.
- Litecoin’s current annual inflation rate is slightly higher than Bitcoin’s rate of 1.70%, but Bitcoin’s rate will change in 268 days during its upcoming halving event.
It will take another 1,458 days until Litecoin’s subsequent halving. As of now, Litecoin’s total hashrate remains relatively consistent at 834.16 terahash per second (TH/s). Whether the reduced revenue will affect the hashrate in the long run remains to be seen.
Hot Take
The recent halving event has significantly impacted LTC miners’ revenue, but Litecoin’s network and hashrate have remained stable. As the inflation rate continues to decrease, Litecoin could potentially become an attractive option for investors seeking a lower inflation rate compared to Bitcoin. However, the upcoming halving for Bitcoin may shift the dynamics once again. It will be interesting to see how Litecoin’s network and price respond in the coming months.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.