Countdown for 2 Altcoins Bought by Turks: Here’s What They’ll Be! – Cryptokoin.com

The latest updates come with the altcoin network planning to start its hard fork by next week.

Altcoin starts hard fork

Last month, the Polygon Governance Team invited the community to their platform to discuss changes to the Polygon PoS chain. According to the post, the hard fork, which aims to limit the increased gas fee along with the reorganization of the address chain, called reorgs, is expected to be released on January 17.

Working on the proof-of-stake mechanism, Polygon has relatively lower gas fees than Ethereum. However, when activity on the network increases, the Polygon network often experiences a low network speed. First, the hard fork aims to reduce gas fee fluctuations that occur when the network experiences increased activity on the chain.

Next comes the reorganization of the address chain, which happens when the verifier node receives the information that creates a new blockchain version. While this new version is temporary, it poses a challenge in verifying the success of a transaction.

To solve the refactoring problem, Polygon aims to reduce the time required to terminate a block to verify successful transactions. For this, the network uses the sprint length, which reduces the block from 64 to 16. Here, a block generator can create blocks in just 32 seconds compared to the previous 128 seconds.

Litecoin Halving could happen in August

Crypto experts believe the next Litecoin (LTC) Halving is scheduled to take place in August 2023. Data from TradingView reveals that LTC is actively rallying before halving. For example, before the first halving, LTC bottomed for 122 days and rose +820%, and after the halving, LTC rose by +14200%.

Again before halving for the second time, LTC bottomed for 243 days and rose +550%. After 2 halvings, LTC is up +1574%. This signals the conclusion that LTC will recover more post-halving compared to pre-halving. cryptocoin.com As we mentioned, LTC is instantly traded at $ 87.96.

A temporary reversal is seen for LTC after the halving. LTC retraced -73% within 578 days of the first halving, and the coin retraced -83% within 458 days of the halving 2. Another trend seen in LTC’s case is just after halving, according to crypto analyst Rekt Capital first to reach the top. As a result, there is a possibility that LTC will peak 92 days before halving in May 2023.

Alternatively, pre-halving highs can come in the form of a doubling, which will usually occur in April 2023. Another crucial point is that the pre-halving rally lasts 90 days in halving 1 and 180 days in Pre-halving 2. Therefore, with this doubling rate, it is possible for 3 rallies to last 360 days before the halving. Additionally, LTC is forming a Macro Wedge, implying the possibility of price compression also occurring.

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