Litecoin (LTC) Halving: Price Nosedives Post-Event – Here's Why

Barely 48 hours after the completion of the Aug 2 Litecoin Halving, the LTC price has dropped 12%, losing the critical $85 support. As whale investors and long-term holders begin to dump, will the bearish momentum worsen?

Timeline of Litecoin

The Litecoin (LTC) halving event took place earlier this week, to the amusement of every member of the crypto ecosystem. The halving is the third in the Litecoin ecosystem, and a lot of hype was generated prior to the event amid broad anticipation that the price will soar following the halving.

As everyone knows, XRP and LTC are two of the most prominent crypto assets on the market, and their addition to Coinbase's futures platform has generated considerable interest among traders.

Litecoin has completed its much-anticipated halving event today, but it seems the investors have reacted by participating in a selloff. Litecoin Has Completed Its Third Halving, Block Rewards Now Down To 6.25 LTC The “halving” event is where LTC's block rewards are permanently cut in half.

The much-anticipated Litecoin halving has concluded, slicing the block rewards in half to 6.25 LTC per block. The shift in supply dynamics marks a critical moment in the cryptocurrency's lifecycle.

The Litecoin (LTC) network has officially experienced its third block reward halving at block height 2,520,000, with LTC rewards diminishing from 12.5 LTC to 6.25 LTC. Thus far, the halving has not propelled LTC prices upwards as market data reveals LTC has declined over 4% in the past 24 hours.

The third halving of Litecoin is just hours away. The block reward will automatically adjust from 12.5 to 6.25 LTC, making Litecoin a deflationary currency with a predictable monetary supply.

The highly anticipated Litecoin (LTC) halving will occur later today, Aug. 2, marking the third event in the cryptocurrency's history. According to litecoinhalving.com, the Litecoin network will reach a block height 2,520,000 around 3:16 pm UTC, reducing the block reward from 12.5 LTC to 6.25 LTC.

On-chain data shows that Litecoin traders are showing signs of capitulation as the asset's much-anticipated halving event is only a few hours away now. Is Litecoin Halving A Buy The Rumor, Sell The News Event?

The Litecoin (LTC) community is buzzing with excitement as the much-anticipated third halving event is set to take place today. This event will see the miners' block reward reduced from 12.5 units to 6.25 coins, marking a significant reduction in Litecoin inflation.

As Bitcoin approaches its own halving next year, Litecoin's has already arrived, as miner block rewards go from 12.5 to 6.25 LTC per block later on today. The silver to Bitcoin's gold When Litecoin creator Charlie Lee read an article in 2011 about this new form of payment that was being used on the Silk Road at the time he was immediately intrigued, and set about copying many aspects of the Bitcoin code in order to produce his own blockchain which he called Litecoin.