Litecoin Completes Third Block Reward Halving, Cutting Rewards to 6.25 LTC; Miners Face Revenue Loss as Prices Dip 4%

The Litecoin (LTC) web has officially experienced its 3rd artifact reward halving astatine artifact tallness 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 arsenic marketplace information reveals LTC has declined implicit 4% successful the past 24 hours.

Halving Unshaken: Litecoin Network Sees Third Reduction successful Rewards

On August 2, 2023, the Litecoin (LTC) blockchain documented its 3rd artifact reward halving. Litecoin’s archetypal halving transpired connected August 25, 2015, astatine artifact tallness 840,000, and the 2nd occurred connected August 5, 2019, astatine artifact tallness 1,680,000.

The astir caller reward halving, happening astatine artifact tallness 2,520,000, has reduced the reward from 12.5 LTC to 6.25 LTC. Prior to this halving event, LTC miners generated 7,200 caller LTC units each day; that complaint has present fallen to 3,600.

LTC prices person decreased by implicit 4%, but they remained unchangeable with a insignificant 0.2% summation passim the erstwhile week. At that constituent successful time, LTC miners received astir $656,919 regular successful LTC rewards; this fig has present been chopped to $331,946.

The information undeniably demonstrates that LTC miners faced a sizeable nonaccomplishment successful gross pursuing the automated halving completion. Litecoin’s yearly ostentation complaint has plunged from 3.64% to the contiguous fig of 1.80%; by the adjacent halving event, it is expected to diminution further to 0.84%.

Litecoin’s existent yearly ostentation complaint is marginally higher than Bitcoin’s complaint of 1.70%. However, Bitcoin’s ostentation complaint volition change successful conscionable 268 days during its upcoming halving event; Litecoin indispensable hold for another​ ​1,458 days until its consequent halving.

Following Bitcoin’s halving, scheduled for connected oregon astir April 26, 2024, the yearly ostentation complaint volition descend to 0.84%. At present, Litecoin’s total hashrate remains comparatively consistent, cruising astatine 834.16 terahash per 2nd (TH/s).

Approaching the Litecoin halving, the hashrate surged 2 months earlier, culminating successful an all-time highest of 1.03 petahash per 2nd (PH/s) connected July 4, 2023, astatine artifact tallness 2,503,485. This information of hashrate persists post-halving; lone clip volition uncover if reduced gross compels the hashrate to depart.

What bash you deliberation astir Litecoin’s 3rd reward halving? Share your thoughts and opinions astir this taxable successful the comments conception below.