Litecoin, the fifth-largest cryptocurrency by market cap, trading at around $104 , a few hours after the halving took place.
Once the process completes, miners will gain just 12.5 LTC per block of mined transactions, instead of the current 25 LTC.
Now the countdown is reset to 1458 days where the rewards will be cut off to 6.25 per block.
While not guaranteed, this increased scarcity has the ability to push up the price of a token,
For Litecoin, the halving did finally delivered a boost with LTC gaining just 14% over the past 24 hours.
Bitcoin, however, outperformed Litecoin and all other altcoins in the top twenty as the week began, rising by close to 10% on the back of increased geopolitical tensions centered on China.
“In the bear market, a lot of traders saw the Litecoin halving as a good fundamental trade and it became pretty crowded,”
We may very well see a price dump in the upcoming days.
Followed by this the price of Litecoin may increase exponentially.
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