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<p class="is-style-lead">The third Litecoin (<a href="https://crypto.news/tag/litecoin/" data-type="URL" data-id="https://crypto.news/tag/litecoin/" rel="noopener noreferrer nofollow">LTC</a>) halving is only hours away, and market data indicates a surge in LTC trading activity in the last 24 hours.</p> 
<p>This halving happens every 840,000 blocks, according to Litecoin’s whitepaper. At the time of writing, the countdown clock on the <a href="https://www.oklink.com/halving" target="_blank" rel="noopener noreferrer nofollow">OKLink</a> platform indicated that there were less than 11 hours left to the event.</p> 
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   <p lang="en" dir="ltr">Litecoin <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$LTC</a> halving is just HOURS away. 👇 🚀 💎 <a href="https://t.co/2CoOpVzdzs" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/2CoOpVzdzs</a></p>— Altcoin Daily (@AltcoinDailyio) <a href="https://twitter.com/AltcoinDailyio/status/1686542447374106631?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 2, 2023</a> 
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<p>The previous halving in 2019 led to a significant uptick in Litecoin’s value. Per historical data from CoinMarketCap, between Aug. 2 and Aug. 9, 2019, in the run-up to the last halving, LTC prices see-sawed between $91 and $95, finally skyrocketing to $105.59 on the day of the halving itself.&nbsp;</p> 
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 <img decoding="async" width="1424" height="792" src="https://crypto.news/app/uploads/2023/08/LTC_1564603200-1565467199_graph_coinmarketcap.jpeg" alt="Litecoin trading volume jumps 30% amid halving hype - 1" class="wp-image-14182543"> 
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   Litecoin during the 2019 halving | Source: <a href="https://coinmarketcap.com/currencies/litecoin/" data-type="URL" data-id="https://coinmarketcap.com/currencies/litecoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
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<p>Unsurprisingly, the anticipation for the 2023 event is <a href="https://crypto.news/analysts-bullish-on-litecoin-chainlink-and-vc-spectra/" rel="noopener noreferrer nofollow">palpable</a>, with Litecoin experiencing a demand surge primarily attributed to the approaching halving. According to data from CoinMarketCap, the coin’s trading volume has registered a 30.35% jump in the last 24 hours and currently stands at about $750 million.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/litecoin-halving-may-support-vc-spectra-and-cardano-prices/" rel="noopener noreferrer nofollow"> Litecoin halving may support VC Spectra and Cardano prices </a> </p> 
<h2 class="wp-block-heading" id="litecoin-price-analysis">Litecoin price analysis</h2> 
<p>Litecoin’s price journey to the event has been a bit of a rollercoaster, peaking at $114 on July 3 before dipping below $100. At the time of writing, the LTC price ranged between $89.81 and $94.27, the highest level it has been at in the last seven days.</p> 
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 <img decoding="async" loading="lazy" width="1424" height="792" src="https://crypto.news/app/uploads/2023/08/LTC_7D_graph_coinmarketcap.jpeg" alt="Litecoin trading volume jumps 30% amid halving hype - 2" class="wp-image-14182544"> 
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   Litecoin’s recent price action | Source: CoinMarketCap 
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<p>Litecoin’s network hashrate has also been shooting up in recent weeks, surpassing 700 TH/s, and seems unstoppably on track to hit 800 TH/s. The hashrate is a network’s computing power per second for mining or transaction processing. So, a rising hashrate translates to processing more transactions per second.</p> 
<p>Like Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="URL" data-id="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>), this halving event happens every four years. It cuts the miners’ reward for producing a block in the Litecoin network and slows the creation of new LTC tokens.</p> 
<p> You might also like: <a href="https://crypto.news/bitcoin-halving-in-2024-may-not-spark-bull-run-analyst-claims/" rel="noopener noreferrer nofollow"> Bitcoin halving in 2024 may not spark bull run, analyst claims </a> </p> 
<p>Pegged initially at 50 LTC, the block reward slimmed down to 25 LTC and 12.5 LTC in the 2015 and 2019 halvings, respectively. The 2023 event promises to be even more dramatic, slashing this reward to 6.25 LTC.</p> 
<p>However, miners are playing the long game. On-chain <a href="https://intotheblock.com/" target="_blank" rel="noopener noreferrer nofollow">data</a> reveals that they have steadily increased their reserves, with 400,000 LTC added in July. It brings total reserves to 2.30 million LTC worth around $213 million at current prices.</p> 
<p>The rewards reduction, paired with the possibility of a lower market supply as miners hold onto their rewards, could be the <a href="https://crypto.news/litecoin-emerges-as-top-gainer-with-7-23-increase-ahead-of-halving/" rel="noopener noreferrer nofollow">silver lining</a> preventing a post-halving price tumble.</p> 
<p> Read more: <a href="https://crypto.news/ltc20-halving-could-set-litecoin-on-a-bull-run-analysis-shows/" rel="noopener noreferrer nofollow"> LTC20 halving could set litecoin on a bull run, analysis shows </a> </p>

Litecoin trading volume jumps 30% amid halving hype

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