Litecoin halving 2023: what it means and how to prepare.
01 Aug 2023, 13:13
✂️ Litecoin halving 2023: what it means and how to prepare?
Litecoin's much-awaited halving is just 1 day away, which will reduce block rewards from 12.5 to 6.25 LTC.
▪️ What is it? 🧐
Halving is pre-programmed into the blockchain protocol to control inflation and ensure a steady, predictable supply of LTC.
▪️ How often does it happen? 🕰
Every 840,000 blocks — appr. every 4 years — Litecoin experiences a halving event.
▪️ Why is it needed? 🤨
The upcoming halving in 2023 will reduce the annual LTC inflation rate from around 4% to ~2%.
▪️ What happened previously? 🤓
After the previous two halvings, the price of LTC rose significantly, jumping by 14,200% after the 1st event and by 1,574% following the 2nd one. However, the price declined significantly after these rallies. It fell 73% in 578 days after the 1st halving and 83% in the next 458 days after the 2nd one.
BTW 👋
LTC 2023 halving will coincide with another huge development for the coin: it hit an ATH in terms of payment transactions – 172M! 😱