Litecoin (LTC) is ready to halve once again in just 13 days, according to some estimations. That means that we will see the new LTC reward fall from 12.5 LTC to 6.25 LTC per block, copying what Bitcoin (BTC) did just three years ago. But how did Litecoin perform in recent days? What else can we expect from Litecoin?
Litecoin Halving Event Gets Closer
Litecoin is getting closer to its next halving event. Every close to four years, the new issuance of some cryptocurrencies such as Litecoin (LTC) or Bitcoin (BTC), get reduced by half. In this case, Litecoin will have its halving event in just 13 days and 03 hours. This will take place at block 2,520,000.
Litecoin was created in 2011 as an alternative virtual currency to Bitcoin. The goal was to offer faster and cheaper transactions than on the main Bitcoin blockchain. Nowadays, Litecoin has added privacy features to LTC in order to make transactions more secure for users.
In recent weeks, Litecoin moved from $73 per coin in mid-June to over $113 in early July. Market participants were excited about the possibility for Litecoin to start moving higher before the halving event. Nevertheless, this didn’t happen and Bitcoin is now being traded at close to $92 per coin.
Many investors believe that at the moment of the halving next month, Litecoin could experience a sell-off, as many users purchased LTC before the event to sell at the time of the actual halving. Nevertheless, this is yet to be seen. At the moment there are no clear details of what can happen to Litecoin in the next few weeks.