A halving of block rewards took place on the Litecoin network

Today, on August 5, the halving of the award for the Litecoin block mined by miners took place.

Halving occurred on block 1 680 000, changing the reward for the block from 25 LTC to 12.5 LTC. The next halving will take place in four years — approximately on August 2, 2023, as a result of which the block reward will decrease to 6.25 LTC, making “digital silver” even more scarce.

According to litecoinblockhalf, 75% of Litecoin’s total supply has been extracted so far. The current inflation rate of the coin is 4.26%, and after four years it should fall to 1.80%. Many investors were confident that the market had long overcame positive expectations due to a decrease in cryptocurrency emissions and were expecting either a sideways price movement or an LTC depreciation. Nevertheless, amid a surge in trading volumes, the coin was dumped by more than 10%, breaking the $ 100 milestone:

This may indicate an optimistic attitude of investors, who are confident that, despite the ineffective miners, the network will continue its stable operation, as well as in the long-term prospects of this popular coin. Currently, the weighted average rate of LTC is at $ 102, the market capitalization of cryptocurrency is $ 6.2 billion.

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