The third halving in history took place on the Litecoin network
Date: 2023-08-03 Author: Karina Ziganova Categories: BLOCKCHAIN, BUSINESS
The reward for miners for mining a block in the Litecoin blockchain has been reduced from 12.5 LTC to 6.25 LTC
The Litecoin ecosystem successfully survived its third halving. The official account of the project announced the successful update on his Twitter page.
The halving took place on August 2 with the generation of block 2,520,000. The LTC price in the LTC/USD trading pair was ~$90 amid the update, and the market capitalization was $6.5 billion, according to TradingView.
It seems that the update itself, at the time of writing, did not have a positive impact on the price of LTC. The day before the halving, the LTC rate was higher and amounted to $91.6 with a market capitalization of $6.8 billion.
As a result of the update, the reward for mining a block in the Litecoin network was halved - from 12.5 LTC to 6.25 LTC. The next halving in the Litecoin network is scheduled for 2027.
It is noteworthy that IntoTheBlock noted the lack of LTC price dynamics despite the growth of the ecosystem itself. According to published data, since 2019, the total number of active addresses in the Litecoin network has grown from 127,000 to 255,000. During the 2019 halving, the LTC rate was also around $90.
