[NEWS] Litecoin reaches halving, mining rewards to be 6.25 LTC

The cryptocurrency Litecoin (LTC) had its halving on the 3rd (Japan time). As a result, mining rewards were halved from 12.5 LTC to 6.25 LTC.

Litecoin, like Bitcoin (BTC), has its halving about once every 4 years, every 840,000 blocks. Therefore, this is the third halving at the 2,520,000th block.

The first halving was on August 25, 2015, and the second on August 5, 2019. The next halving will be carried out at block height 3,360,000, and is expected to occur in 2027. At that time, mining rewards will be halved from 6.25 LTC to 3.125 LTC.

Litecoin has been in operation since 2011, and is a cryptocurrency that has been traded for a long time, ranking 11th in market capitalization at the time of writing. The maximum number of LTC issued is 84 million, and currently 73.5 million LTC, or about 87%, has been issued.

At the time of writing, due to the overall market decline, the price is about 6% lower than the previous day at $86 (about 12,400 yen).

Generally, when a certain cryptocurrency reaches a halving, the new issuance rate decreases, so the scarcity increases and the price tends to rise.

Litecoin also reached a halving with a slight decrease this time, but the price rose to about $90 during the second halving, while the price was about $3 during the first halving.

The halving of Bitcoin, which is attracting attention, is scheduled for around March to April next year.

Bitcoin's halving occurs every 210,000 blocks, and has occurred three times in the past. The current mining reward amount is 6.25 BTC, so the next halving will be 3.125 BTC.

Bitcoin's price has risen significantly each time it reaches a halving, and it is attracting attention as an important factor in price growth next year as well.

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