Litecoin soared along with the wider bitcoin and cryptocurrency sector in 2017 before a sharp downturn in 2018. It appears the worse now may be over for many major cryptocurrencies, including litecoin, bitcoin, ethereum and EOS.
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<p>Litecoin traders and investors seem to have been roused by the excitement caused by the one-year countdown to the bitcoin so-called halvening event, expected in mid-May next year.</p>
<p>Litecoin, the world’s fifth largest cryptocurrency by market value, is due to halve its miner rewards in August of this year and if the economics applied to bitcoin’s supply squeeze are correct, the same will apply to litecoin—which will see its mining reward fall from 25 litecoin to 12.5 litecoin.</p>
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<p>Meanwhile, the Hong Kong-based OKEx bitcoin and cryptocurrency exchange has suggested it may soon begin offering support for litecoin’s lightning network.</p>
The cryptic OKEx tweet suggested litecoin support could be on the way.
Twitter / @OKEx
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Litecoin, one of the most credible bitcoin rivals, has suddenly rocketed higher today, gaining around 15% over the last 24 hour trading period and adding to a year-to-date rise of a staggering 200%.
The litecoin price began 2019 at around $30 per litecoin token after a brutal 2018 saw the billions of dollars wiped from litecoin’s value—but the litecoin price has rallied hard in 2019, climbing to a little over $100 per litecoin token.
Litecoin soared along with the wider bitcoin and cryptocurrency sector in 2017 before a sharp downturn in 2018. It appears the worse now may be over for many major cryptocurrencies, including litecoin, bitcoin, ethereum and EOS.
Getty
Litecoin traders and investors seem to have been roused by the excitement caused by the one-year countdown to the bitcoin so-called halvening event, expected in mid-May next year.
Litecoin, the world’s fifth largest cryptocurrency by market value, is due to halve its miner rewards in August of this year and if the economics applied to bitcoin’s supply squeeze are correct, the same will apply to litecoin—which will see its mining reward fall from 25 litecoin to 12.5 litecoin.
Meanwhile, the Hong Kong-based OKEx bitcoin and cryptocurrency exchange has suggested it may soon begin offering support for litecoin’s lightning network.
The cryptic OKEx tweet suggested litecoin support could be on the way.
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