Litecoin (LTC) has experienced significant gains in the past 24 hours, surpassing the $100 mark. This surge in value coincides with the upcoming halving event, which will see miners' block rewards cut in half, resulting in a decrease in the number of tokens in circulation.

This scarcity economics principle suggests that the value of LTC will increase as tokens become scarcer, making it a potential inflation hedge in the future.

Both retail and large investors, known as whales, have been accumulating LTC in anticipation of the halving event. However, the impact of the halving event on LTC's price movement remains uncertain, as previous halving events did not result in significant price changes.