Halving Date Approaching in Digital Silver Litecoin (LTC)! How Can It Affect the Price?

Litecoin (LTC) halving is among the most anticipated events of 2023 for cryptocurrency enthusiasts and investors.
The Litecoin (LTC) halving is among the most anticipated events of 2023 for all Proof-of-Work (PoW) cryptocurrency enthusiasts and investors.
Litecoin Halving Expected to Happen in August
Approaching its third halving event in Litecoin history; previous halvings took place in 2015 and 2019.
During the next halving, Litecoin's emission will decrease by 50%. Currently, Litecoin miners receive 12.5 Litecoins (LTC) per block; After the halving, this reward will decrease to 6.25 LTC per block.
Litecoin halving occurs every 840,000 blocks; The next halving is expected to occur on August 2, 2023, at approximately 8:35 PM.
Typically, the Litecoin halving is an event that triggers a bullish cycle not only for “Digital Silver” but also for Bitcoin (BTC) and all major altcoins.
The prospect of Litecoin halving has already led to double-digit increases in Litecoin price, Bitcoin Cash (BCH) price, Bitcoin Cash ABC (XEC) price and other Bitcoin-like cryptocurrencies.
Since Litecoin is among the largest altcoins, the third halving event is in the limelight of cryptocurrency enthusiasts around the world. It is also poised to usher in a new era in Litecoin's history.
What is Litecoin (LTC)?
Litecoin is a proof-of-work (PoW) consensus-based cryptocurrency. This means that its decentralized system is maintained by a distributed miner ecosystem, i.e. computers that find hashes for cryptocurrency blocks (solving sophisticated cryptography puzzles).
Litecoin was introduced by Bitcoiner Charlie Lee in October 2011. Litecoin uses the abbreviation LTC and the symbol Ł. Unlike Bitcoin (BTC), Litecoin cryptocurrency supply is limited to 84 million coins.
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