LTC/USD UPDATE
LTC becomes one of the most lucrative assets as its level of mining becomes difficult to attack with USD37,368 for an hour attack.
It is mined using a Scrypt algorithm, and the current L3 miner is the widely used machine to achieve this level of mining competition.
The Litecoin block reward is still 25 LTC per block, produced every 2.5 minutes. Currently, more than 61 million LTC have been mined, and the asset is one of the most liquid coins in circulation. LTC has already gone through one halving. Currently, in a move of “miners following the money”, LTC is selected as one of the more lucrative assets. However, the increased hashrate also means greater competition for block discovery.
Because of the high level of mining, the Litecoin network is now relatively difficult to attack, costing $37,368 an hour to achieve a one-hour attack. With this, Litecoin lines up at the top with the most expensive coins to attack.
Currently, LTC/USD trades for USD60.70, with LTC struggling to gain an upward momentum as the present cost is in between solid dimensions of obstruction and bolster. as seen on the chart LTC seems not making a big rally at support level, as bears fought off the bulls this Monday as it ended up trading for $60.70. The daily confluence detector shows us that further price movement (upwards and downwards) is going to be difficult as the price is sandwiched between healthy levels of resistance and support
It is mined using a Scrypt algorithm, and the current L3 miner is the widely used machine to achieve this level of mining competition.
The Litecoin block reward is still 25 LTC per block, produced every 2.5 minutes. Currently, more than 61 million LTC have been mined, and the asset is one of the most liquid coins in circulation. LTC has already gone through one halving. Currently, in a move of “miners following the money”, LTC is selected as one of the more lucrative assets. However, the increased hashrate also means greater competition for block discovery.
Because of the high level of mining, the Litecoin network is now relatively difficult to attack, costing $37,368 an hour to achieve a one-hour attack. With this, Litecoin lines up at the top with the most expensive coins to attack.
Currently, LTC/USD trades for USD60.70, with LTC struggling to gain an upward momentum as the present cost is in between solid dimensions of obstruction and bolster. as seen on the chart LTC seems not making a big rally at support level, as bears fought off the bulls this Monday as it ended up trading for $60.70. The daily confluence detector shows us that further price movement (upwards and downwards) is going to be difficult as the price is sandwiched between healthy levels of resistance and support
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