What's Driving Litecoin's Surprising Rally?

July 2 (Cointime) - Litecoin has defied market trends and experienced a surge in value, with analysts attributing this to the upcoming block reward halving in August. The halving will reduce the mining reward from 12.5 LTC to 6.25 LTC per block, which is expected to limit the influx of new supply into the market and push Litecoin's price up.

Litecoin's recent listing on EDX Markets and BlackRock's Bitcoin ETF filing have also contributed to its price rally. However, the market is currently in an "overbought" state, indicating a correction could be on the horizon. Despite this, Litecoin remains positioned for potential gains and could ascend to $130.

Bitcoin $98,389.96

-0.66%

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