Litecoin completes third halving event
Litecoin, a proof-of-work-based blockchain, executed its third halving event on Wednesday, reducing miner rewards from 12.5 to 6.25 Litecoins per block.
See related article: Weekly Market Wrap: Bitcoin falls below key US$30,000 support level, as market optimism over ETFs ebbs
Fast facts
- Litecoin price fell 3.86% US$89.16, in the 24 hours leading up to 11:15 p.m. in Hong Kong.
- Like Bitcoin, block halving events on Litecoin happen every four years. Litecoin had a market capitalization of US$6.54 billion at 11:15 p.m. in Hong Kong, making it the 11th largest cryptocurrency.
LITECOIN HAS SUCCESSFULLY HALVED ITS BLOCK REWARD!
— Litecoin (@litecoin) August 2, 2023
⚡ $LTC ⚡ pic.twitter.com/iemCnkPsdu
- Litecoin’s halving event comes before Bitcoin’s own halving, which is expected to occur in April 2024. Historically, each four-year Bitcoin halving cycles included all-time highs in prices.
- Litecoin launched in October 2011 with 50 LTC as initial block rewards. The network’s last halving is estimated to take plac in 2142.
- Litecoin miners have mined 87% of the network’s 84 million total coins, according to CoinMarketCap.
See related article: Crypto’s latest inflection point an opportunity for Asia to lead, says Circle’s Yam Ki Chan
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Litecoin completes third halving event
Litecoin, a proof-of-work-based blockchain, executed its third halving event on Wednesday, reducing miner rewards from 12.5 to 6.25 Litecoins per block.
See related article: Weekly Market Wrap: Bitcoin falls below key US$30,000 support level, as market optimism over ETFs ebbs
Fast facts
- Litecoin price fell 3.86% US$89.16, in the 24 hours leading up to 11:15 p.m. in Hong Kong.
- Like Bitcoin, block halving events on Litecoin happen every four years. Litecoin had a market capitalization of US$6.54 billion at 11:15 p.m. in Hong Kong, making it the 11th largest cryptocurrency.
LITECOIN HAS SUCCESSFULLY HALVED ITS BLOCK REWARD!
— Litecoin (@litecoin) August 2, 2023
⚡ $LTC ⚡ pic.twitter.com/iemCnkPsdu
- Litecoin’s halving event comes before Bitcoin’s own halving, which is expected to occur in April 2024. Historically, each four-year Bitcoin halving cycles included all-time highs in prices.
- Litecoin launched in October 2011 with 50 LTC as initial block rewards. The network’s last halving is estimated to take plac in 2142.
- Litecoin miners have mined 87% of the network’s 84 million total coins, according to CoinMarketCap.
See related article: Crypto’s latest inflection point an opportunity for Asia to lead, says Circle’s Yam Ki Chan
Read More