Litecoin Price(LTC)

The global cryptocurrency market cap now stands at $1.19T, down by -0.02% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $29,500 and $31,137 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $30,463, down by -1.11%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include XEC, QTUM, and LTC, up by 32%, 22%, and 12%, respectively.Top stories of the day:Sudden Crypto Volatility Spurs $216M in Losses, Liquidating Both Long and Short PositionsBitcoin Cash, FTX’s FTT Token and COMP Led Crypto Market Gains in JuneUS SEC Says Bitcoin ETF Applications Inadequate: WSJMarket movers:ETH: $1918.07 (+1.61%)BNB: $243.6 (+2.01%)XRP: $0.4706 (-1.11%)ADA: $0.2867 (-0.10%)DOGE: $0.06839 (+3.81%)LTC: $111.03 (+12.40%)SOL: $18.51 (-1.17%)TRX: $0.0774 (+1.87%)DOT: $5.31 (+3.45%)MATIC: $0.6607 (+0.35%)Top gainers on Binance:XEC/BUSD (+32%)QTUM/BUSD (+22%)LTC/BUSD (+12%)

Popular cryptocurrency Litecoin (LTC) has reached a new milestone in its issuance and distribution. The crypto asset’s circulating supply has now surpassed 73 million, or 87% of its maximum supply of 84 million. The latest achievement aligns with Litecoin’s proposed use case as a store of value, means of exchange, and investment vehicle in the rapidly evolving digital asset market. It also comes within 70 days to the Litecoin network, which is expected in early August.Over 87% of LTC’s Max Supply Is Now in Circulation Founded in 2011 by Charlie Lee, Litecoin is a decentralized peer-to-peer (P2P) digital currency that uses scrypt as a proof-of-work algorithm to enable fast and cheap transactions compared to Bitcoin (BTC).The cryptocurrency has many similarities to BTC, including its halving mechanism, which reduces the block reward every four years, and its block time, which is 2.5 minutes instead of 10 minutes for BTC. However, Litecoin has also introduced some innovations, such as Segregated Witness (SegWit) and the Lightning Network, which enhance its scalability, privacy, and interoperability with other blockchains.The current milestone of 73 million LTC in circulation means that over 87% of the total 84 million LTC that will ever exist have been mined. The remaining 11 million LTCs will be created over the next century as block rewards to miners who maintain the network’s security and integrity. This gradual emission schedule ensures that Litecoin’s inflation rate stays relatively low, predictable, and fair for all stakeholders. Following Litecoin’s upcoming halving, the number of coins issued per mined block would drop from 12.5 LTC to 6.25 LTC.Significance of LTC’s Circulating Supply MilestoneThe significance of the latest achievement goes beyond the numerical value. It shows that the cryptocurrency has established a solid network effect, community support, and market recognition as a legitimate and valuable digital asset. The more LTC circulates, the more options users have to buy, sell, trade, or hold it, the more merchants and exchanges accept it as a payment method, and the more investors and institutions diversify their portfolios with it. Moreover, the scarcity of the cryptocurrency relative to its demand and utility can drive up its price and market capitalization, which currently stands at over $6 billion. Meanwhile, the latest development comes as the Litecoin network has just processed its 160 millionth transaction, marking over 10 million transactions in the last six weeks.The post Litecoin Circulating Supply Surpasses 73 Million, as Halving Approaches appeared first on Coinfomania.

In an eagerly awaited event that is expected to ignite a wave of optimism in the cryptocurrency market, Litecoin (LTC) is preparing for its third halving, known as LTC20. Taking place on August 10, this event has garnered significant attention among traders, who see it as a catalyst for a potential surge in LTC prices. Industry experts from Santiment, a renowned cryptocurrency analytics platform, have forecasted increased participation by major investors, signaling a promising outlook for the popular Bitcoin-alternative.The halving event, which occurs approximately every four years, involves a reduction in the supply of LTC and has historically driven prices higher in the cryptocurrency space. Similar phenomena have been observed during Bitcoin halvings, where a decrease in mining rewards resulted in significant upside reactions in prices. As Litecoin’s network approaches block 2,140,000, the mining reward will be slashed from 12.5 LTC to 6.25 LTC, creating a supply shortage that is anticipated to drive demand and fuel the bullish sentiment surrounding LTC.On-chain metrics of the Litecoin network further reinforce this optimistic narrative. In recent times, there has been a notable increase in on-chain activity, indicating growing interest and engagement within the Litecoin community. This surge in activity underscores the anticipation surrounding the upcoming halving event and the potential impact it may have on LTC’s price trajectory. As traders and investors brace themselves for the halving, the market sentiment surrounding Litecoin remains upbeat, with many eagerly awaiting the potential price surge that may follow.Experts from Santiment have been closely monitoring these developments and have provided valuable insights into the dynamics that may shape Litecoin’s future. With increased participation by big players on the horizon, there is a strong likelihood of a concerted effort to push Litecoin’s price to the $100 mark. This significant milestone represents a symbolic achievement and could act as a psychological catalyst, further fueling investor confidence and attracting wider attention to the altcoin market.However, as with any market event, it is crucial to remain mindful of potential fluctuations and short-term corrections. While experts predict a surge to $100, they also anticipate a temporary pullback ahead of the halving. These price movements are not uncommon in the cryptocurrency realm, and they often reflect the market’s attempt to find a stable equilibrium after periods of heightened volatility. Investors should exercise caution and employ prudent risk management strategies during such periods of price fluctuation.The implications of Litecoin’s halving event extend beyond the immediate impact on LTC prices. The heightened interest in Litecoin, fueled by this event, could have ripple effects throughout the wider cryptocurrency market. As market participants witness the potential benefits of halvings and the subsequent price movements, it may stimulate further exploration of other altcoins and contribute to the overall growth and maturation of the cryptocurrency ecosystem.However, amidst the optimism, it is crucial to remember that the cryptocurrency market is known for its volatility. Short-term fluctuations and pullbacks are not uncommon, even in the face of significant events like halvings. Investors should approach the situation with caution, ensuring they have sound risk management strategies in place.The impact of Litecoin’s halving event reaches beyond its immediate implications. It serves as a testament to the growing importance of cryptocurrencies in the global financial landscape. As Litecoin gains attention and attracts new participants, it contributes to the overall growth and development of the altcoin market, fostering innovation and creating new opportunities for investors and enthusiasts alike.In conclusion, the countdown to Litecoin’s highly anticipated halving event, LTC 20, has begun, and the cryptocurrency community is brimming with excitement and anticipation. As we approach August 10, market participants are closely monitoring the on-chain metrics and expert predictions that point towards a bullish trajectory for Litecoin’s price. With the potential involvement of major investors and the historical precedents set by Bitcoin halvings, the stage is set for Litecoin to experience a surge in value.