According to a tweet posted on Sunday, March 5, Litecoin’s highly-anticipated halving event is set to take place in the next 150 days. This means that the latest and third halving of Litecoin cryptocurrency will happen on August 4, 2023.

Litecoin halving is a major event that occurs when the reward for mining LTC transactions is slashed in half. The event, which takes place once every four years, reduces the rate at which new coins are produced and thus lowers the available amount of new supply, even as demand rises. The purpose of the halving is to preserve the purchasing power of the crypto asset.