- Litecoin surpasses 170 million transactions, setting new records.
- LTC halving event: a major milestone approaches.
- The exciting halving event is set to happen on August 2.
A significant milestone has been achieved by Litecoin as it processes its 170 millionth transaction on its network. The announcement on Twitter highlights the continuous growth of LTC, with an addition of over 10 million transactions in the past seven weeks.
This achievement holds significance as the network has maintained uninterrupted uptime throughout its over 11-year history. Known as the “Digital Silver” to Bitcoin’s “Digital Gold,” Litecoin emphasizes its unique distinction as the only blockchain with such a long track record of continuous uptime.
Litecoin’s much-awaited halving to happen soon
The upcoming (LTC) halving in 2023 is generating significant anticipation among supporters of proof-of-work (PoW) cryptocurrencies. It will be the third halving in Litecoin’s history, following those in 2015 and 2019.
With approximately 18 days remaining until the event, expectations are rising, as indicated by increased search trends for Litecoin reported by on-chain analytics firm IntoTheBlock. This approaching halving event is considered a crucial factor driving the increased interest surrounding LTC.
OKLink’s analytics platform provides a countdown to the halving event, currently at 17 days and 3 hours, with an expected date of August 2. There are approximately 9,875 blocks left before the event takes place. The halving event will reduce Litecoin mining rewards from 6.25 LTC to 3.125 LTC and is generally viewed as a positive development.