Halving Date Approaching in Digital Silver Litecoin (LTC)! How Can It Affect the Price?

Litecoin (LTC) halving, all Proof-of-Work (PoW) cryptocurrency It is among the most anticipated events of 2023 for enthusiasts and investors.

Litecoin Halving Expected to Happen in August

Approaching its third halving event in Litecoin history; previous halvings took place in 2015 and 2019.

During the next halving, Litecoin’s emission will decrease by 50%. Currently, Litecoin miners receive 12.5 Litecoins (LTC) per block; After halving, this reward will decrease to 6.25 LTC per block.

Litecoin halving occurs every 840,000 blocks; The next halving is expected to occur on August 2, 2023, at approximately 8:35 PM.

Typically, the Litecoin halving is an event that triggers a bullish cycle not only for “Digital Silver” but also for Bitcoin (BTC) and all major altcoins.

The prospect of Litecoin halving has already led to double-digit increases in Litecoin price, Bitcoin Cash (BCH) price, Bitcoin Cash ABC (XEC) price and other Bitcoin-like cryptocurrencies.

Since Litecoin is among the largest altcoins, the third halving event is in the limelight of cryptocurrency enthusiasts around the world. It is also poised to usher in a new era in Litecoin’s history.

What is Litecoin (LTC)?

Litecoin is a proof-of-work (PoW) consensus-based cryptocurrency. This means that its decentralized system is maintained by a distributed miner ecosystem, i.e. computers that find hashes for cryptocurrency blocks (solving sophisticated cryptography puzzles).

Litecoin was introduced in October 2011 by former Google engineer and early Bitcoiner Charlie Lee. Litecoin uses the abbreviation LTC and the symbol Ł. Unlike Bitcoin (BTC), Litecoin cryptocurrency supply is capped at 84 million coins.

At the time of this writing, Litecoin Price was trading at $100.83.

*Not investment advice.