Halving events in cryptocurrency
One of the well-known and popular cryptocurrencies, Litecoin, will be witnessing its halving block reward within 100 days. This event will reduce the block rewards through mining, which will increase the value of each LTC.
This event will be very similar to Bitcoin’s halving event that happens every 4 years.
This Litecoin halving will be taking place around the 9th of Aug. 2019 and the Litecoin halving is scheduled to take place at approximately block number 1,680,000.
Miners are currently rewarded 25 new LTC per block, which will now be decreased to 12.5 LTC per block. This event will see the inflation rate of the cryptocurrency decrease, just how a deflationary currency normally works.
The LTC halving will continue until all the 84,000,000 LTCs are mined, which is expected to be around the year 2142 as indicated in the block reward schedule.
Past Litecoin halving events
There has been only one Litecoin halving event in the past. The first block reward reduction took place on the 26 of Aug in 2015. In this period the block reward decreased from 50 LTCs per block to 25 LTCs per block. This event had a very great impact on the cryptocurrency market as a whole.
The price of Litecoin took a considerable good spike between the 13th of April 2019 to May 22, 2015. As, this event usually has a good effect on the price of the cryptocurrency, making traders increase their trading frequency.
The halving is one of the most solid events known in the cryptocurrency industry that has managed to get a spot on the top 10 best cryptocurrencies to date.
Some in the industry see litecoin as a speculative asset, as it is more of a copy of Bitcoin while others see it more as the digital silver. You can follow the litecoin halving event through the halving site.
What do you think about these upcoming Litecoin halving event?
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