LTC: 🦝 Entering the Halving Cycle First 🌓Litecoin Sees 55% Increase In New Daily Addresses As Bullish Sentiment Grows:
Bullish sentiment around Litecoin has been on the rise as the network is drawing closer to its much-anticipated halving event. This positive sentiment is reflected in the number of new daily addresses on the blockchain, which has seen a significant rise over the last week.
Understanding Upcoming Litecoin Halving:
Litecoin’s halving is set for August 26.
In anticipation, wallet addresses and active users are skyrocketing.
Historically, price action has always followed halvings – but predicting when is tricky.
Halving events in cryptocurrency always garner a lot of attention with their rarity and impact to supply and demand. One of the older coins will have its fourth-ever halving in the coming weeks.
Litecoin, along with another major coin – Bitcoin – always has price action conversations attached to the halvings that have come before. Patterns seem to point to price rises following a halving, but the timing of the rises is difficult to predict.
Historical data reveals that previous Litecoin halvings did not immediately result in significant price surges for LTC. After the 2015 halving event, the price of Litecoin remained relatively steady until the middle of 2017, when Bitcoin embarked on a remarkable bull run that dominated the markets during that time.
Similarly, the second halving also led to a period of price stability before the broader cryptocurrency markets experienced a bull market in 2021.
🦝To my buddy Dave aka the Raccoon.... and future (maybe) partner to be.
One Love,
The FXPROFESSOR🌓
links:
www.newsbtc.com
dailycoin.com
