Litecoin grows ahead of halvening
While the cryptocurrency market continues to consolidate after a recent rally and a subsequent decline, Litecoin stands out from the crowd..
During the day, its growth was about 10%, along with which the price reached $ 113. As a result, the fifth largest cryptocurrency has almost entirely won back the fall of the last week, while Bitcoin is recovering at a more modest pace..
Renowned trader and analyst Luc Martin writes: “I almost overslept the fact that Litecoin halvening will take place in 60 days. Today the price climbed 5%, breaking out of consolidation. I think it could go even higher than its recent high of around 0.0182 BTC. “.
The Litecoin halvening, as Martin rightly notes, will take place in about 60 days. Then, thanks to the settings in the algorithm, a block will be released, along with which the reward for miners will fall from 25 LTC to 12.5 LTC, and inflation – from 8.83% to 4.26%.
Events are also unfolding against the background of the Litecoin hash rate reaching a historical maximum.
Recall that the next bitcoin halvening will take place in less than a year. While some analysts have high hopes for this event, others suggest that the effect will be blurred due to the fact that it will be included in the price of cryptocurrency by trading participants long before its immediate occurrence..
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