As its third halving event approaches, Litecoin's hashrate climbs to a new all-time high. However, its LTC coin has failed to be positively impacted. Has the halving been priced in?
At press time, the network’s hashrate stood at 786.50 TH/s. When a blockchain’s hashrate climbs in such a manner, it means that the network is more secure and stable and will become more difficult for malicious actors to infiltrate.
With a cut in the coin’s supply through the halving event and an expected increase in demand, Litecoin founder Charlie Lee believes that LTC’s price would rally. Lee, in a Twitter spaces event held last week, noted:Easy tiger, LTC might have other plans This means that the current traders and investors in the market have already considered that the block reward will be reduced and have moved accordingly. Hence, the halving event may not necessarily lead to immediate price surges.
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