Litecoin (LTC), the fourth largest cryptocurrency in the market, continues its positive trend amid a stable Wednesday. In the last 24 hours, Litecoin grew more than 3%, showing that investors are paying close attention to its upcoming halving. The digital currency registered the largest growth among the top 30 digital assets.
Litecoin Keeps Growing
In the last 24 hours, Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin and Bitcoin Cash (BCH) registered positive growth. Bitcoin expanded just 0.3% and Litecoin registered the largest growth among them. Meanwhile, Ethereum expanded 0.79%, Bitcoin Cash 0.81% and XRP 2%.
This shows that the whole crypto market is currently moving forward, even if this is not a massive price surge. These five virtual currencies have a large influence in the whole market and it could help the remaining thousands of coins to follow the same trend.
Litecoin has been in the news in the last months because the digital asset is expected to be experiencing a halving event as soon as in August this year. With this halving, miners are going to receive fewer LTC coins every time they find a block. At the moment of writing, miners are receiving 25 LTC per block but they will soon be receiving just 12.5 LTC.
If the demand for Litecoin continues growing – which is expected to happen in a bull market – the price of the digital asset is expected to grow. We are 46 days away from the hard fork and Litecoin inflation rate per annum after the next block halving event is expected to fall from 8.8% to 4.26%.
Although rewards are going o be falling in the near future, the hash rate of Litecoin continues to reach new all-time highs. According to BitInfoCharts, Litecoin registered a record of 405T. This represents a growth of over 177% in a very short period of time.
As we wrote a few days ago, the Litecoin Foundation has just launched a debit card that would allow users to spend their crypto, including Litecoin, in millions of stores and shops. With this debit card, users will just be able to spend their crypto coins, including LTC.
At the time of writing this article, Litecoin is being traded around $138 and it has a market capitalization of $8,62 billion, compared to Bitcoin’s $162.4 billion market capitalization.
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