Litecoin (LTC) is being talked about more and more as it approaches the halving. What can we expect?
While part of the crypto community is eagerly awaiting the Bitcoin halving scheduled for 2024, the Litecoin halving that is scheduled for August 10 is also something to talk about.
Litecoin Halving Prepares Some Surprises
According to the Sentiment firm, mining rewards will be halved, as is customary during halving events, but this is not the only thing to keep in mind.
In fact, whales and other large investors are already actively preparing for the event.
Litecoin whale transaction count. Spring: Virtue
Transactions made by these big players are on the rise, volumes on the blockchain are exploding, and Litecoin is also seeing a significant increase in price, a sign that investment is nearing halving.
An extremely positive summer is coming for Litecoin but beware! The phenomenon may only be of short duration.
When a user asked the sentiment team about this it was pronounced in favor of a temporary bull market.
Prices will rise in the coming weeks before stabilizing, or they will fall during August, when the general euphoria subsides.
Litecoin: An asset to watch?
What can we really make of this analysis? It could be that the sentiment is misplaced as Litecoin has been in an uptrend for several years.
Even the crypto winter didn’t tarnish the asset’s reputation or progress.
LTC/USD Historical Chart. Source: Coinmarketcap
Either way, many experts predict a continuation of a bull market through at least August.
This phenomenon may be reinforced by the advent of NFTs on the Litecoin network, as well as persistent transaction fee issues on the Bitcoin and now Ethereum networks.
Therefore, these may encourage the public to turn to less expensive projects thus allowing LTC to follow the first cryptocurrencies.
If the outcome of the halving remains uncertain, there is little chance that the event will end Litecoin’s bull run. One thing’s for sure: This summer, you’ll be hearing it!
Disclaimer: Following The Trust Project guidelines, this article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to reporting transparency, but the views expressed in this article do not reflect the views of BeInCrypto or its employees. Readers should independently verify information and seek professional advice before making decisions based on this material.