Stellar (XLM) has achieved double-digit gains of nearly 25% over the past seven days, making it the second-highest crypto asset in terms of price gain over the past week.
XLM’s value has risen by 78% in the last month. This has occurred despite Bitcoin’s price remaining stagnant over the same period, despite its statistically significant positive correlation with the leading cryptocurrency, bitcoin [BTC].
Litecoin (LTC) block rewards are expected to halve on August 3, 2023, less than 78 days from now. The halving of Litecoin means that the block reward for mining will drop from 12.5LTC to 6.25LTC, increasing the difficulty of mining and reducing the income of miners. This may cause some miners to exit the market, thus affecting the distribution of Litecoin's computing power and further affecting the security of the network. However, with the adjustment of the market and the improvement of the efficiency of miners and mining machines, the Litecoin network is expected to gradually return to stability.
Historically, cryptocurrency halving events usually bring a certain degree of price volatility. As the halving approaches, the market may have expectations for the price of Litecoin, and investors may increase their investment efforts, pushing the price of Litecoin up. However, it should be noted that the market's expectations for the halving may have been partially reflected in the current price, so the price fluctuations may not be as drastic as expected.
