Litecoin Completes Third Block Reward Halving, Cutting Rewards to six.25 LTC; Miners Face Revenue Loss as Prices Dip 4%

The Litecoin (LTC) community has formally skilled its third block reward halving at block peak 2,520,000, with LTC rewards diminishing from 12.5 LTC to six.25 LTC. Thus far, the halving has not propelled LTC costs upwards as market knowledge reveals LTC has declined over 4% up to now 24 hours.

Halving Unshaken: Litecoin Network Sees Third Reduction in Rewards

On August 2, 2023, the Litecoin (LTC) blockchain documented its third block reward halving. Litecoin’s first halving transpired on August 25, 2015, at block peak 840,000, and the second occurred on August 5, 2019, at block peak 1,680,000.

The most up-to-date reward halving, occurring at block peak 2,520,000, has lowered the reward from 12.5 LTC to six.25 LTC. Prior to this halving occasion, LTC miners generated 7,200 new LTC units every day; that fee has now fallen to 3,600.

LTC costs have decreased by over 4%, however they remained secure with a minor 0.2% enhance all through the earlier week. At that time limit, LTC miners acquired roughly $656,919 day by day in LTC rewards; this determine has now been reduce to $331,946.

The knowledge undeniably demonstrates that LTC miners confronted a substantial loss in income following the automated halving completion. Litecoin’s annual inflation fee has plunged from 3.64% to the current determine of 1.80%; by the subsequent halving occasion, it’s anticipated to say no additional to 0.84%.

Litecoin’s present annual inflation fee is marginally larger than Bitcoin’s fee of 1.70%. However, Bitcoin’s inflation fee will alter in simply 268 days throughout its upcoming halving occasion; Litecoin should wait for one more​ ​1,458 days till its subsequent halving.

Following Bitcoin’s halving, scheduled for on or round April 26, 2024, the yearly inflation fee will descend to 0.84%. At current, Litecoin’s total hashrate stays comparatively constant, cruising at 834.16 terahash per second (TH/s).

Approaching the Litecoin halving, the hashrate surged two months earlier, culminating in an all-time peak of 1.03 petahash per second (PH/s) on July 4, 2023, at block peak 2,503,485. This safety of hashrate persists post-halving; solely time will reveal if lowered income compels the hashrate to depart.

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