Litecoin (LTC) Block Reward Halving Less than a Month Away
The expected LTC halving may happen around August 5, and drop the reward from 25 to 12.5 LTC per block.
Based on current block production, Litecoin (LTC) will go through another halving this August 5, at block 1,680,000. The reward will be lowered from 25 to 12.5 LTC, matching the block reward for Bitcoin (BTC). The LTC halving arrives half a year before the BTC block reward goes lower.
The first Litecoin halving happened on August 25, 2015, but this time, the date has drawn closer due to slightly faster block production with record mining activity.
The expectations of a lowered reward and slower coin production pushed up the LTC market price from lows around $22 in December 2018, to a recent peak around $140. But the shift in market conditions and the general decline in altcoin prices pushed LTC down closer to the $100 level.
The Litecoin foundation believes the latest rally in LTC prices is not as steep and potentially volatile. During the last halving, the LTC market price went vertical in Satoshi terms, from 0.006 BTC to 0.02 BTC within days. The dollar price, however, at that time was still under $5. Later, the price crashed again.
Now, LTC is sliding against BTC just like other altcoins. The asset hovers around 0.008 BTC, a level not far from the one just before the previous halving.
But this time, the event may fail to cause a rapid price spike, as BTC is sucking up all the market’s resources.
Additionally, the halving may also mean upcoming problems for the Litecoin network, as well as for the market price. Litecoin mining is still near peak levels, to secure some of the last lucrative blocks with 25 LTC reward. Afterward, worse mining conditions with high difficulty and a lower reward may discourage miners.
The LTC market price may also drop significantly following the halving, making the value of mining rwards worth less.