Litecoin Surges as Halving Date Edges Closer
Litecoin is currently up 10% week-on-week, soaring as other major coins slide in value.
Its price gains are currently outpacing top coins including Bitcoin, Ethereum, Dogecoin, Ripple’s XRP, and Bitcoin Cash.
What is Litecoin?
Litecoin is often seen as Bitcoin’s younger, more nimble, little brother.
Based on Bitcoin’s code, Litecoin has a handful of optimizations that make it a better means of exchange than Bitcoin thanks to its smaller block size resulting in lower transaction fees and faster payments.
However, it hasn’t grabbed the same status as Bitcoin as a store of value.
Litecoin’s halving date is closing in
Just like Bitcoin, Litecoin experiences halvings every four years.
At a halving, the reward given to miners for mining a block is cut in half. This means the rate of supply falls overnight which drives up the price. This causes both Bitcoin and Litecoin to experience halving cycles, in which the price typically rises as a halving approaches.
Bitcoin’s next halving isn’t until March 2024, but Litecoin’s next halving is currently predicted to be on Thu, Aug 03, 2023.
Litecoin halving date prediction (litecoinhalving.com)
Buy litecoin before the next halving
Want to fill your litecoin bags before the next litecoin halving? You can buy litecoin with credit card, debit card, bank transfer, google pay, apple pay, and more at Xcoins!
As always, this article does not constitute financial advice. You should be sure to do your research and consult a professional financial advisor before making a major investment decision.
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