According to IntoTheBlock, Litecoin had a busy quarter in which it broke its previous record for transactions.
In a quarterly report on Litecoin, IntoTheBlock mentions that the network handled more than 500,000 daily transactions for the first time during the quarter. It states that this is rather close to the daily average for Bitcoin transactions in May.
A thrilling quarter for Litecoin saw it achieve new peaks.
The new cryptocurrency exchange EDX Markets, sponsored by major Wall Street players Charles Schwab, Citadel Securities, and Fidelity Digital Assets, chose to only allow institutional investors to use its trading platform to begin using Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
The mining hash rate for Litecoin (LTC) has been constantly rising and has just surpassed previous records.
The Litecoin Foundation revealed that the blockchain’s hashrate had risen to an all-time high of 957.22 TH/s in a tweet on June 27. This upgrade, according to the tweet, was a clear sign of the LTC network’s steady, healthy, and maturing growth as well as the network security of Litecoin.
The imminent halving is another constructive step for the Litecoin system. On or around August 2, 2023, the third Litecoin halving event is predicted to occur. The block reward for Litecoin, which is now 12.5 LTC, will be reduced to 6.25 LTC.
The first halving event for Litecoin took place on August 25, 2015, at a block height of 840,000, while the second halving event took place on August 5, 2019, with a block height of 1,680,000.
The next Litecoin halving event is now being anticipated by the crypto industry.
The second halving event occurred on August 5, 2019, with a block height of 1,680,000. Right now, anticipation is building for Litecoin’s impending halving event.
A huge green candlestick on June 30 served as evidence of the significant increase in Litecoin price. The price of LTC increased from $83 to $103 before retracing a little to where it is currently trading.
Following a notable price increase, LTC was up 14.16% in the past day to $97.53 at the time of writing. The top 10 cryptocurrencies now include Litecoin, which has a market valuation of $7.1 billion.
