The Litecoin (LTC) blockchain halving is scheduled for early August 2023. On the eve of this event, analytical services recorded an increase in the activity of network participants. The hype around the cryptocurrency did not significantly affect the movement of quotes.
Analysts from ABM Crypto noted that halving is usually followed by a rise in prices, so many traders and investors expect high LTC volatility in the coming days. Experts recalled: according to Nicehash data, the 4th Litecoin halving will take place approximately 11 days from the date of writing this news.
According to researchers from Santiment, over the past 24 hours, more than 1.18 thousand addresses were registered holding at least 100 LTC (over $9.38 thousand), indicating the accumulation of assets in anticipation of a major event.
Large holder activity has also increased over the past few weeks, according to the Santiment chart. This is evidenced by the increase in the number of transactions by whales. Additionally, the total number of LTC holders has skyrocketed over the past month. The researchers noted that the combination of these factors may indicate investors' faith in the long-term prospects of the LTC digital currency. $LTC #Crypto2023 #ltc
While online activity was growing, the same could not be said for the mining industry. The Coinwarz chart showed that Litecoin hashrate has decreased over the past 7 days. A similar trend was observed in the LTC mining difficulty graph. This may indicate the current outflow of sector participants from the network.
