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<div class="sg-post-des">
 Litecoin block rewards have now halved to 6.25 LTC as the halving clock is reset for another four years. 
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<div class="cointelegraph"> 
 The Litecoin halving event has been completed with block rewards now halved at 6.25 Litecoin (LTC) per block.&nbsp; 
 On Aug. 2, the Litecoin blockchain went through its automated <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> procedure at block 2,520,000. LTC miners are now getting half the rewards and the clock has been reset for the next <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> in roughly four years' time. 
 Litecoin founder Charlie Lee commented on the discrepancies between the different <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> countdown timers, suggesting that the NiceHash one was the most accurate. However, all of them agreed on an Aug. 2 date. 
 <blockquote class="twitter-tweet"> 
 This is funny. I googled "Litecoin Block Halving Countdown" and checked the first 4 hits. The ETA for the halving is all over the map! From my quick calculation, I believe NiceHash's countdown is the most accurate. I expect the halving to occur in about a 1 day, 2 hours, and 30… pic.twitter.com/7lvOKCtiOh— Charlie Lee ️️ (@SatoshiLite) August 1, 2023 
 </blockquote> 
 Moreover, LTC prices have been down trending since early July when they topped $110 for the first time since April 2022. The silver to Bitcoin’s gold is currently hovering around the $92 level where it was this time a fortnight ago. 
 <blockquote class="twitter-tweet"> 
 Litecoin's third HALVING is just hours away. The block reward will automatically adjust from 12.5 to 6.25 $LTC - thus making Litecoin a predictable monetary supply and a deflationary currency. Litecoin Sound Money. pic.twitter.com/9h1rh4f0vi— Litecoin (@litecoin) August 1, 2023 
 </blockquote> 
 Speaking on the <a rel="noopener noreferrer nofollow" title="adoption" href="https://thebittimes.com/tag/adoption.html">adoption</a> of Litecoin as a <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a> method, BitPay CEO Stephen Pair told Cointelegraph that Litecoin and Bitcoin Lightning <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a>s had their best months in recent history on the global <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a>s platform. 
 Related: Litecoin price poised for 700% gains vs. Bitcoin, says Charlie Lee 
 As of June, LTC surpassed Bitcoin (BTC) as the crypto of choice for <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a>s on BitPay, accounting for 35%. BitPay claims to have processed 57,949 crypto-related total transactions over the past 30 days. 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/08/02/9fb88cdd95f155258061f90e2fc1c272.webp"> 
 <figcaption style="text-align: center;"> BitPay payments by crypto asset. Source: BitPay 
 </figcaption> 
 </figure> 
 While North America, Europe and the United Kingdom remain the firm's largest markets Pair said there was notable growth for crypto payments in Africa. 
 <blockquote>
 “We are seeing notable growth in African-based BitPay users, with more merchants and spenders replacing traditional banking systems in favor of cryptocurrency.” 
 </blockquote> 
 “Latin America is also an area where we expect to see a rise in activity from BitPay merchants and customers over the next few years,” he added. 
 Litecoin is the 12th largest cryptocurrency by market capitalization with $6.8 billion with its daily trading volume around $1.14 billion. 
 There are currently 73.5 million LTC in circulation out of a maximum supply of 84 million. 
 Magazine: ‘Elegant and ass-backward’: Jameson Lopp’s first impression of Bitcoin 
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Litecoin halving completes as LTC sees increased payments adoption

TheBitTimes

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