- Litecoin (LTC) halving is expected to bring a scarcity in LTC supply.
- The trading volume kept increasing irrespective of the LTC drop.
Litecoin Halving, the recent talk of the town is approaching the crypto world in just three days. However, the Litecoin (LTC) holders are rushing up as the halving is just away reported Santiment, a platform of behavior analysis.
LTC Holders’ Activity
With the analysis of crypto enthusiasts and traders, this event is considered to be an aggressive bullish push in the crypto industry.
⚡️ With #Litecoin's highly anticipated #halving event within arm's reach on Wednesday, key traders holding between $9.5k and $950k worth of $LTC are aggressively accumulating. Like most coin halvings, this is being perceived as a #bullish event by traders. https://t.co/wkpoOrceCS pic.twitter.com/1UrxCdcoGS
— Santiment (@santimentfeed) July 30, 2023
According to Santiment, the coming Wednesday might hit the Litecoin holders to trade in the range between $9.5k and $950k. To mention, the dolphins and the sharks stacked 205.4K LTC in their wallets till the 14th of June 2023.
Meanwhile, the records say that the Litecoin network has involved in 33M transactions in the last 6 months till June. Currently, the market price has sloped down by a 1.03% range at $93.79. Nevertheless, the 87.48% circulating supply is surging the trading volume with a surge of 17.70% ranking 9th position in CoinMarketCap.
Litecoin Prediction and Updates
Considering the long-term prediction of LTC, the bullish price might reach up to $134.57. There are expectations that there could be a 50% surge in the next 7 years as per the predictors.
🚀 Litecoin activity is leading the market right now.
— LunarCrush (@LunarCrush) July 30, 2023
📊An analysis…
1⃣ A major social engagement spike to 2.16M social engagements within one hour occurred. This measures the depth of activity around social posts. Things like retweets, comments, etc. are included here to… pic.twitter.com/GY6qCLVR9S
Now, the social engagement of the LTC is getting huge and the participation of traders and investors hitting the majority of the crypto community. As per LunarCrush, Litecoin makes the strongest combination of trading and social engagement in the crypto market.
Regarding the upcoming third Litecoin halving, the schedule is set for August 2nd of 2023. This time, the block reward would reduce to 6.25 LTC for the miners; this exists when 2.52M blocks are mined overall. There is a possibility of increasing scarcity as nearly 87% of coins are mined and the rest would fall in demand.
Related Crypto News:
