Litecoin Overtakes Bitcoin in Gains Ahead of Halvening

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Litecoin has quadrupled over the past six months and is up 40% from last year taking now fourth position below XRP with a market cap of $8.6 billion.

While bitcoin has gained “only” 130% over the past six months and 20% over a year.

Litecoin's price, June 2019
Litecoin’s price, June 2019

Litecoin has risen from $30 to now $140 in just three months ahead of its halvening in 54 days estimated to fall on or around August 7th.

It is the second halvening for litecoin, reducing its block rewards from 25 btc to 12.5 btc per block.

Inflation too is to fall considerably from a current 8.8% to 4.2%, bringing it roughly in line with bitcoin and ethereum.

Mining will remain still profitable in China, some remote regions in USA, and some parts of Europe like Iceland provided electricity costs are about 5 cent per kilowatt.

Litecoin’s hashrate has risen to all time high even though price remains far below its all time high of $420.

Litecoin's hashrate, June 2019
Litecoin’s hashrate, June 2019

There doesn’t appear much else to be going on for litecoin except for the halvening, with this being pretty much a copy paste of bitcoin trying to fill the role of a bitcoin substitute if necessary.

Copyrights Trustnodes.com

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