• Litecoin is preparing for its third mining reward halving, which will reduce the per-block reward to 6.25 LTC from 12.5 LTC.
• The crypto-asset has seen an increase in network activity in the lead up to this event, with 8.5 million LTC addresses having a balance and new address count hovering close to all-time highs.
• Santiment suggests that increased on-chain volume could be an indication of big players investing in anticipation of the halving.
Litecoin’s Upcoming Halving
Litecoin is slated to undergo its third mining reward halving in early August. After this event, the per-block reward paid to miners will be lowered by 50% to 6.25 LTC from 12.5 LTC.
Increased Network Activity
The 12th largest crypto-asset by market value has managed to fetch some big gains lately, pushing its price to $92.58 and several on-chain metrics have flipped positive as well. Data from IntoTheBlock suggested that Litecoin had a strong month since the end of April, with total address count with a balance increasing “intensely” and currently standing at 8.5 million LTC addresses with a balance last week. Both new and active address count has been close to fresh all-time highs established in February this year, even briefly surpassing new Bitcoin addresses at one point recently according to crypto analytic platform Santiment .
Big Players Investing?
Santiment also stated that if the trend of increased on-chain volume continues then it could be an indication that some bigger investors are beginning their investments in Litecoin in anticipation of the halving event set for early August this year..
Price Momentum Building
Litecoin’s price has been picking up momentum after a recent dip and leading up to the upcoming halving event due next month, indicating good sentiment amongst investors and traders alike over what may come following it .
Overall, Litecoin appears primed for success ahead of its third mining reward halving later this summer as more users continue joining the network daily while existing ones hold onto their assets tightly – suggesting heightened anticipation amongst holders towards what lies ahead once the block rewards are slashed significantly following August 4th