Why Litecoin’s state looks dire ahead of halving

July 30, 2023

By Dipayan Mitra

Read Litecoin’s [LTC] Price Prediction 2023-24

• Litecoin’s fourth halving is expected to happen on 3 August, at a block height of 2,520,000.

• Though metrics looked bearish, a few market indicators gave hope for a trend reversal.

Litecoin’s [LTC] halving is just four days away, which will reduce block rewards from 12.5 LTC to 6.25 LTC. While some in the crypto space have high hopes from the blockchain ahead of its halving, the broader crypto market seems to have a different opinion.  

Litecoin’s price action also remained under the bears’ influence, raising further concerns ahead of the major event. 

Litecoin’s halving is less than a week away

To be precise, just 3000 blocks remain until Litecoin’s upcoming halving. As per Nicehash, the event is expected to take place on 3 August. Though this is a major event and several are ambitious about Litecoin, its mining industry has been witnessing a decline.

For instance, Coinwarz’ chart pointed out that the blockchain’s hashrate has plummeted over the last few weeks. Not only that, but Litecoin’s miners’ fees also sank, which too was a negative signal for its swimming sector.

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