Litecoin completes third halving, block reward reduce to six.25 LTC

• Litecoin halving is full, with block reward decreased to six.25 LTC.
• LTC worth was $91 at halving, down 4% prior to now 24 hours.

Litecoin has halved its block reward from 12.5 LTC to six.25 LTC following the activation of its third halving occasion at block peak 2,520,000.

The proof-of-work (PoW) coin’s newest halving occurred as LTC worth hovered close to worth ranges additionally seen over the past occasion in 2019. 

Nonetheless, the community has seen vital development by way of complete addresses, variety of energetic every day addresses, transaction quantity, and hashrate amongst different metrics, in keeping with market intelligence and on-chain information analytics platform IntoTheBlock.

Completely satisfied halving day @litecoin! Let’s evaluate some key metrics to the final halving in 2019. What do you discover👀?#LITECOINHALVING #LTC #Litecoin pic.twitter.com/V9wneIZkRS

— IntoTheBlock (@intotheblock) August 2, 2023

LTC worth at halving

Litecoin worth is down 4% prior to now 24 hours and 17% prior to now month. 

At present ranges of $89.7, LTC/USD is about 78% from its 2021 bull market peak. Notably too is that the coin peaked at simply above $115 in its pre-halving rally, a situation that opens up a probably short-term unfavourable flip. 

Traditionally although, costs have rebounded increased post-halving and optimistic market situations in subsequent few months might support that outlook. 

Crypto analyst Rekt Capital pointed out this forecast earlier right this moment.

Many months later, $LTC has registered its Pre-Halving high across the $115 area

Image-perfect rejection from the orange Macro Downtrend

As per post-Halving tendencies, this is what to anticipate within the coming months:

📉 #LTC might expertise deep retracement

Traditionally, LTC… https://t.co/XUz1Woukog pic.twitter.com/RP5oYQSVi9

— Rekt Capital (@rektcapital) August 2, 2023

As famous above, the value of Litecoin on the time of halving right this moment was largely the identical as on the final halving. Nonetheless, as Rekt mentions above, LTC has rallied extra post-halving than pre-halving and the prediction might nonetheless materialise within the subsequent a number of months.

Litecoin’s worth rose to a brand new all-time excessive of $410 in Could 2021, earlier than the bear market of 2022 noticed the cryptocurrency lose most of that worth. Costs dropped to lows of $47 in June as crypto contagion impacted markets after the collapse of Terra and Three Arrows Capital.