LITECOIN: Entering the Halving Cycle First 🌓 (Part 2)
Updated
Best trade are the high leveraged ones that we manage to keep open and then forget about.
Just hit second target for LTC and a breakout has taken place..lovely volatile day!
Why Pump?
For the same reasons we mentioned last time..read the title:
part 1:
Litecoin Halving Is Just Around The Corner
Here’s the deal with the halving. Miners in the network get rewarded with Litecoin for producing blocks. At the beginning, it was 50 LTC per block. But every 4 years or so (around 840,000 blocks), that reward gets cut in half. Currently at 12.5 LTC, it will drop to 6.25 LTC after the August 2023 halving.
Like Bitcoin, Litecoin was designed to be deflationary, like gold or silver. As time goes on, the number of LTC mined decreases, making them scarcer. The cool thing is that Litecoin’s issuance is predictable. We know the total supply (84 million), block time (2.5 minutes), halving schedule (every 840,000 blocks) and thus the end date of the issuance of new coins (around 2142). The network controls issuance through consensus.
One Love,
The FXPROFESSOR 🌓
Link: bitcoinist.com/litecoin-halving-is-due-in-33-days/
Just hit second target for LTC and a breakout has taken place..lovely volatile day!
Why Pump?
For the same reasons we mentioned last time..read the title:
part 1:
Litecoin Halving Is Just Around The Corner
Here’s the deal with the halving. Miners in the network get rewarded with Litecoin for producing blocks. At the beginning, it was 50 LTC per block. But every 4 years or so (around 840,000 blocks), that reward gets cut in half. Currently at 12.5 LTC, it will drop to 6.25 LTC after the August 2023 halving.
Like Bitcoin, Litecoin was designed to be deflationary, like gold or silver. As time goes on, the number of LTC mined decreases, making them scarcer. The cool thing is that Litecoin’s issuance is predictable. We know the total supply (84 million), block time (2.5 minutes), halving schedule (every 840,000 blocks) and thus the end date of the issuance of new coins (around 2142). The network controls issuance through consensus.
One Love,
The FXPROFESSOR 🌓
Link: bitcoinist.com/litecoin-halving-is-due-in-33-days/
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