Litecoin (LTC) halving is anticipated to create a scarcity of LTC coins. Despite a drop in LTC’s value, the trading volume has been consistently increasing.
Litecoin Halving Nears: LTC Holders Show Enthusiasm
The highly anticipated Litecoin (LTC) halving is just three days away, and holders are showing increased interest, as reported by Santiment.
Crypto enthusiasts and traders view this event as a potential aggressive bullish push in the crypto industry.
⚡️ With #Litecoin's highly anticipated #halving event within arm's reach on Wednesday, key traders holding between $9.5k and $950k worth of $LTC are aggressively accumulating. Like most coin halvings, this is being perceived as a #bullish event by traders. https://t.co/wkpoOrceCS pic.twitter.com/1UrxCdcoGS
— Santiment (@santimentfeed) July 30, 2023
Santiment predicts that Litecoin holders may trade within the range of $9.5k to $950k on the upcoming Wednesday. As of June 14, 2023, the dolphins and sharks have accumulated 205.4K LTC in their wallets.
Litecoin (LTC) 24H Price Prediction (Source: CoinMarketCap)
In the past six months until June, the Litecoin network has processed 33 million transactions. Presently, the market price stands at $93.79, experiencing a slight decline of 1.03%. However, the circulating supply, amounting to 87.48% of the total, has contributed to a surge in trading volume, ranking Litecoin at the 9th position on CoinMarketCap with a 17.70% increase.
Litecoin Prediction and Latest Updates
Long-term Litecoin (LTC) prediction suggests a bullish price target of $134.57, with expectations of a potential 50% surge in the next 7 years, according to predictors.
🚀 Litecoin activity is leading the market right now.
📊An analysis…
1⃣ A major social engagement spike to 2.16M social engagements within one hour occurred. This measures the depth of activity around social posts. Things like retweets, comments, etc. are included here to… pic.twitter.com/GY6qCLVR9S
— LunarCrush (@LunarCrush) July 30, 2023
LTC’s social engagement is rapidly growing, drawing significant participation from traders and investors within the crypto community. According to LunarCrush, Litecoin stands out as one of the strongest combinations of trading and social engagement in the market.
The much-anticipated third Litecoin halving is scheduled for August 2nd, 2023. During this event, the block reward for miners will reduce to 6.25 LTC, triggered after the mining of 2.52 million blocks in total.
This reduction in supply could potentially lead to increased scarcity as approximately 87% of the coins have already been mined, creating higher demand for the remaining supply.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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