Litecoin News Today – This year has been a remarkable one for Litecoin (LTC) and the crypto market at large. Litecoin (LTC) has had a pretty eventful year than most coins in the market. LTC to USD price put up a spectacular performance during the bullish phase of the market from April to June. During the bull run, Litecoin was one of the year-to-date highest gainers among all the top cryptos. The price of Litecoin (LTC) surged by more than 350 percent (year-to-date). Litecoin to USD performance surpassed that of Bitcoin to USD.
However, the entire crypto market has been moving in the opposite direction since then. A majority of coins have lost a considerable fraction of the gains they amassed during the bull run. Even XRP (XRP), the second-largest altcoin in the market, is now struggling below the 30 cents mark, after breaking over 50 cents during the bull run. At the time of writing, the year-to-date growth of Litecoin (LTC) is just slightly over 140 percent.
Litecoin (LTC) Price Today – LTC / USD
Litecoin News Today – LTC News Update – LTC Latest Update – Litecoin Halving Was Successful But Did Not Yield Expected Result for Investors
The Litecoin network just experienced its second-ever halving on August 6. The halving event saw the reduction of block mining reward from 25 LTC to 12.5 LTC. Prior to the halving, there were lots of speculations regarding the potential impact of the halving on the price of LTC. However, the Litecoin network has not been having its best days since the halving. Since the halving, Litecoin hash rate has dropped from 444.01 TH/s on Aug. 6 to 321.78 TH/s on Aug. 26. This is a decrease of about 28 percent according to data from BTC.com.
Generally, after halving, it is believed that the price of a coin would experience a shift in price performance. This could go either way, upwards or downwards. Nevertheless, LTC to USD price progressively plunged in price all through the month after the halving. However, there is new research that explains that the halving of a coin does not significantly affect its price performance.
Litecoin (LTC) Poor Performance Is Not Only Caused by the Halving Event
Recent research explained that the halving event of a digital currency does not really have a significant impact on its price performance. The research revealed that a limited impact is usually seen after a halving event. When the Sortino, Sharpe, and total return of a digital currency undergoing a halving were scrutinized, they found out that it did not perform out of the ordinary. The research also referenced the event of Bitcoin (BTC) and Litecoin, stating:
“Litecoin has now outpaced the market twice in the pre-halving period with performance falling to the bottom 25 percent in six months after the first halving. On the other hand, Bitcoin (BTC) lagged the market leading up to the laving but was in the first quartile of performance following the last halving.”