Litecoin is positioning well for a bullish continuation towards $90, as the project edges closer towards its block reward halving event, and developers announce the release of Litecoin’s new Core v0.17.1 update.
Litecoin Halving
The Litecoin halving event, which is scheduled to take place in 87 days on August 6, will see LTC block mining rewards reduced from 25 LTC to 12.5 LTC.
The halving event takes place after each tranche of 840,000 blocks has been mined, and aims to increase scarcity by reducing the amount of Litecoins that enter the market during the coin’s mining lifecycle. By gradually stifling the supply it ensures that the market value of the underlying asset steadily grows over time, and helps to prevent over-inflation as demand for the coin rises.
Whenever a coin undergoes a halving event, it is usually preceded by a strong bullish surge in momentum as traders seek to capitalise on the shrinking supply. Bitcoin in particular, has a history of surging up to a year before its halving events - with the next bull run already underway as the May 2020 halving approaches.
Litecoin Core V0.17.1 Release
The latest Litecoin core update has been released this week, which boasts a number of promising new f...
