Litecoin’s Upcoming Halving Event Could Increase Demand for Cryptocurrency

Litecoin is anticipated to attract more attention and demand as a result of the halving event scheduled for August 2023, which will ensure the scarcity of its circulating supply and make it immune to inflation.

The halving will cut the rewards given to miners for block creation in half, which could result in a decrease in the number of coins released into the market and an increase in demand.

Despite low investor sentiment, LTC has seen a 7% increase in the short term, possibly due to whale activity, but its price remains subject to short-term fluctuations in demand and sell pressure.

Litecoin $90.03

+1.8%

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