Summary: Litecoin, a popular cryptocurrency, has successfully completed its third halving event, resulting in a reduction of the block reward from 12.5 LTC to 6.25 LTC. The halving occurred at block height 2,520,000. Despite the halving, the price of LTC has decreased by 4% in the last 24 hours. However, the Litecoin network has seen significant growth in terms of total addresses, daily active addresses, transaction volume, and hashrate.

LTC Price at Halving

The price of Litecoin has declined by 4% in the past 24 hours and 17% in the last month. Currently trading at around $89.7, LTC/USD is about 78% below its 2021 bull market peak. The cryptocurrency peaked just above $115 before the halving, which may potentially lead to a bearish trend before a new upside run.

According to cryptocurrency analyst Rekt Capital, Litecoin experienced a rejection from the macro downtrend after reaching a pre-halving peak of $115. He suggests that LTC may go through a deep retracement following the halving, based on historical post-halving tendencies.

Although the price of Litecoin has not significantly improved compared to the previous halving, the cryptocurrency reached an all-time high of $410 in May 2021. However, it experienced a significant loss in value during the bear market of 2022, dropping to a low of $47 in June.

FAQs

What is a halving event in cryptocurrency?

A halving event in cryptocurrency refers to the reduction of the block reward given to miners for validating transactions. It occurs at specific intervals and helps control the inflation and supply of the cryptocurrency.

What is the block reward for Litecoin after the halving?

After completing its third halving, the block reward for Litecoin has been reduced from 12.5 LTC to 6.25 LTC.

How has the Litecoin network grown despite the halving?

The Litecoin network has seen significant growth in terms of total addresses, daily active addresses, transaction volume, and hashrate, according to market intelligence and on-chain data analytics platform IntoTheBlock.

What is the current price of Litecoin?

As of now, the price of Litecoin is approximately $89.7.

What is the price performance of Litecoin leading up to the halving?

LTC peaked at just above $115 in its pre-halving rally, but has since declined by 4% in the past 24 hours and 17% in the last month.