The countdown for Litecoin halvening has begun, in just a few hours the Litecoin will go through its second halvening process. When 1,680,00 block would be mined, the Litecoin would go through halvening.
Why is Litecoin halvening done?
Every decentralized cryptocurrency goes through halvening after every four years to keep the supply and demand in check.
What would be the impact of halvening?
After halvening the reward for each block mined is reduced to half, hence the name “halvening.” The current reward for each block mined for Litecoin is 25 LTC after the halvening it will be reduced to 12.5 LTC.
How would halvening affect the price?
Price of the Litecoin would be expected to rise after the halvening as it becomes harder for miners to mine the coin after their rewards are cut in half. However, it takes a long time to see the impact of halvening on the price.
When will be the last Litecoin halvening?
It is estimated that last litecoin will be mined around 2142 when all 84 million coins will come in circulation. As of now, 62,983,450 Litecoins have been mined.