According to IntoTheBlock, Litecoin experienced a busy quarter in which it broke a record for transactions.
In its quarterly update on Litecoin, IntoTheBlock notes that the network processed over 500,000 daily transactions for the first time during the quarter. It mentions that this is close to the number of daily Bitcoin transactions for May.
In a fascinating quarter, Litecoin accomplished new milestones.
The brand-new cryptocurrency exchange EDX Markets, which debuted last week and is backed by major Wall Street players Charles Schwab, Citadel Securities, and Constancy Digital Belongings, has chosen to only allow its merchants—institutional buyers—to begin trading with Bitcoin, Ethereum, Litecoin, and Bitcoin Money.
The cost of mining Litecoin (LTC) has increased constantly, setting new records.
The Litecoin Foundation announced that the blockchain’s hash rate had reached an all-time high of 957.22 TH/s in a tweet on June 27. According to the tweet, this update was a clear sign of the LTC community’s regular, healthy, and maturing advancement as well as the currency’s overall community safety.
The impending halving represents another positive development for the Litecoin system. On or around August 2, 2023, the third Litecoin halving event is projected to take place. The current Litecoin block reward, which is 12.5 LTC, will be reduced to 6.25 LTC.
At a block peak of 840,000 on August 25, 2015, Litecoin saw its first halving event. On August 5, 2019, a block peak of 1,680,000 marked the second halves event.
The upcoming Litecoin halving event is being anticipated by the cryptocurrency industry.
The second halving incident occurred on August 5, 2019, at a block peak of 1,680,000. Right now, anticipation is building for Litecoin’s impending halving event in the cryptocurrency market.
A gigantic novice candlestick displayed on June 30 shows that Litecoin achieved a significant climb. The LTC price increased from $83 to $103 before hardly declining to its current trading level.
Following a significant value increase, LTC was up 14.16% over the previous 24 hours to $97.53 at the time of writing. Litecoin has joined the top 10 cryptocurrencies with a market capitalization of $7.1 billion.
