LTC20 Halving May Trigger Litecoins Bull Run: Analysis.

LTC20 Halving May Trigger Litecoins Bull Run: Analysis.


Learn how the upcoming Litecoin halving event could significantly improve the network and potentially boost the asset’s price, according to market intelligence platform Santiment.

Litecoin (LTC), likewise known as the lite version of the largest digital currency Bitcoin (BTC) (BTC), has been suffering the bear market conditions as it’s down by nearly 78 percent from its record-breaking peak (ATH) of $412.9 in May 2021.

Nonetheless, as the LTC20 halving gets closer, specialists believe it  can potentially significantly make better the network, and the asset’s price could boost. The event, which is set to happen on August 10, will decrease the blockchain’s mining bonus from 12.5 LTC or 6.25 LTC, reports by the market intelligence platform Santiment.

Furthermore, a price explosion is expected, per Santiment, for two main reasons — miners will try to mine more crypto tokens before the event, and the existing LTC will be worth more as a slower production of each coin is expected.

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Reports by Santiment’s insights, the crowd realized  the LTC20 halving to be less than 3 months away on May 14. With the investors’ excitement, litecoin’s price rose from $80 to around $86 in 24 hours.

The 24-hour volume of trading likewise exploded from the $300 Million mark to over $700 Million that day.

Furthermore, the number of unique Litecoin addresses exploded within the 1st week of May, reaching a one-year-high, reports by Santiment. The insights expect a price “cool down” as some investors may be taking short-term profits.

Litecoin is up by 1 percent in the past 24 hours, with a 5 percent boost in the previous week. The investment is currently worth $92.11 at the time of writing. Nonetheless, LTC’s 24-hour volume of trading has decreased by 17.2%, sliding to the $380 Million mark. 

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