- Litecoin (LTC) is gaining attention on Twitter.
- LTC is trading at the price of $89.49.
The cryptocurrency market has undergone some significant changes recently, and several cryptocurrencies are in the news. Recently, Litecoin (LTC) has generated talks on the crypto Twitter.
One of the earliest cryptocurrencies on the market and a fork of Bitcoin is Litecoin. To prevent the monopolization of the Bitcoin mining market, Litecoin was developed. The altcoin facilitates peer-to-peer transactions. Litecoin has a different mining algorithm than Bitcoin (BTC) and offers faster block generation times, allowing for faster transaction confirmations and lower transaction fees. Litecoin (LTC) promotes its payments as being almost free.
There are indications that the price of Litecoin could rise once more when its subsequent halving event draws near. As per reports, The halving is anticipated to occur on August 2, 2023. Litecoin halving is a cyclical occurrence that occurs every 840,000 blocks created on its network, about every four years. During this event, the reward for miners validating a network block decreases by half, meaning they receive just half the quantity of Litecoins for each block they mine.
Additionally, to establish environmentally friendly crypto mining techniques, Litecoin (LTC) recently stated that it will collaborate with Metalph Technology Holding Ltd (MATH). Among them will be the decrease in carbon emissions and the application of renewable energy sources in the mining industry. At the time of writing, Litecoin (LTC) is trading at $89.49 on major exchanges, significantly lower than its all-time high of $412.92.
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