The Litecoin halving event has been completed with block rewards now halved at 6.25 Litecoin (LTC<\/a>) per block.\u00a0<\/p>\n On Aug. 2, the Litecoin blockchain went through its automated halving procedure<\/a> at block 2,520,000. LTC miners are now getting half the rewards and the clock has been reset for the next halving in roughly four years’ time. <\/p>\n Litecoin founder Charlie Lee commented on the discrepancies between the different halving countdown timers, suggesting that the NiceHash<\/a> one was the most accurate. However, all of them agreed on an Aug. 2 date.<\/p>\n This is funny. I googled “Litecoin Block Halving Countdown” and checked the first 4 hits. The ETA for the halving is all over the map!<\/p>\n From my quick calculation, I believe NiceHash’s countdown is the most accurate. I expect the halving to occur in about a 1 day, 2 hours, and 30\u2026 pic.twitter.com\/7lvOKCtiOh<\/a><\/p>\n \u2014 Charlie Lee \u24c2\ufe0f\ufe0f (@SatoshiLite) August 1, 2023<\/a><\/p><\/blockquote>\n Moreover, LTC<\/a> prices have been down trending since early July when they topped $110 for the first time since April 2022. The silver to Bitcoin\u2019s gold is currently hovering around the $92 level where it was this time a fortnight ago. <\/p>\n Litecoin’s third HALVING is just hours away. The block reward will automatically adjust from 12.5 to 6.25 $LTC<\/a> – thus making Litecoin a predictable monetary supply and a deflationary currency. <\/p>\n Litecoin \u26a1 Sound Money. pic.twitter.com\/9h1rh4f0vi<\/a><\/p>\n \u2014 Litecoin (@litecoin) August 1, 2023<\/a><\/p><\/blockquote>\n Speaking on the adoption of Litecoin as a payment method, BitPay CEO Stephen Pair told Cointelegraph that Litecoin and Bitcoin Lightning payments had their best months in recent history on the global payments platform. <\/p>\n Related: <\/em><\/strong>Litecoin price poised for 700% gains vs. Bitcoin, says Charlie Lee<\/em><\/strong><\/a><\/p>\n As of June, LTC surpassed<\/a> Bitcoin (BTC<\/a>) as the crypto of choice for payments on BitPay<\/a>, accounting for 35%. BitPay claims to have processed 57,949 crypto-related total transactions over the past 30 days. <\/p>\n While North America, Europe and the United Kingdom remain the firm’s largest markets Pair said there was notable growth for crypto payments in Africa. <\/p>\n \u201cWe are seeing notable growth in African-based BitPay users, with more merchants and spenders replacing traditional banking systems in favor of cryptocurrency.\u201d<\/p><\/blockquote>\n \u201cLatin America is also an area where we expect to see a rise in activity from BitPay merchants and customers over the next few years,\u201d he added.<\/p>\n Litecoin is the 12th largest cryptocurrency by market capitalization with $6.8 billion with its daily trading volume around $1.14 billion.<\/p>\n There are currently 73.5 million LTC in circulation out of a maximum supply of 84 million.<\/p>\n Magazine: <\/em><\/strong>\u2018Elegant and ass-backward\u2019: Jameson Lopp\u2019s first impression of Bitcoin<\/em><\/strong><\/a><\/p>\n <\/div>\n\n
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