{"id":583485,"date":"2023-08-03T11:03:49","date_gmt":"2023-08-03T10:03:49","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=583485"},"modified":"2023-08-03T11:03:58","modified_gmt":"2023-08-03T10:03:58","slug":"litecoin-price-falls-after-halving-is-the-party-over","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/litecoin-price-falls-after-halving-is-the-party-over\/","title":{"rendered":"Litecoin Price Falls After Halving, Is the Party Over?"},"content":{"rendered":"<ul>\n<li>Litecoin completed its third halving event on 2 August.<\/li>\n<li>Its LTC coin has, however, failed to react positively.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Litecoin [LTC] failed to log any significant price reaction following the network\u2019s third halving event yesterday. At press time, the coin ranked as the fourth crypto asset with the most declines in the last 24 hours, per data from <\/span><a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<figure id=\"attachment_583487\" aria-describedby=\"caption-attachment-583487\" style=\"width: 2814px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-583487\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12.png\" alt=\"\" width=\"2814\" height=\"872\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12.png 2814w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12-300x93.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12-1024x317.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12-770x239.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12-1536x476.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12-2048x635.png 2048w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12-500x155.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12-269x83.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12-746x231.png 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.35.12-1376x426.png 1376w\" sizes=\"(max-width: 2814px) 100vw, 2814px\" title=\"\"><figcaption id=\"caption-attachment-583487\" class=\"wp-caption-text\">Source: CoinMarketCap<\/figcaption><\/figure>\n<h3><b>Much ado about nothing<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">In its 12-year history, Litecoin completed its third halving event on 2 August. The event led to a reduction in miners\u2019 block reward from 12.5 LTC to 6.25 LTC.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">LITECOIN HAS SUCCESSFULLY HALVED ITS BLOCK REWARD!<\/p>\n<p>\u26a1 <a href=\"https:\/\/twitter.com\/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$LTC<\/a> \u26a1 <a href=\"https:\/\/t.co\/iemCnkPsdu\" rel=\"nofollow\">pic.twitter.com\/iemCnkPsdu<\/a><\/p>\n<p>&mdash; Litecoin (@litecoin) <a href=\"https:\/\/twitter.com\/litecoin\/status\/1686755968489861120?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">August 2, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Before the halving, there was a debate about whether the halving event would result in a positive price rally for LTC. Some analysts believed that the halving was already priced in by most traders in the market. This means that many traders had already factored in the fact that the block reward would be halved and had traded accordingly. This group of people did not think the halving would result in any significant price growth for LTC.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Others, including Litecoin founder Charlie Lee, opined that the halving would increase the price per LTC coin. This is because the halving will reduce LTC\u2019s supply, and should demand stay the same or increase, it would create a supply-demand imbalance, which would drive up the coin\u2019s price.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lee, on a Twitter spaces session held last week, had said:<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cIf the supply side gets cut in half and the demand stays the same, then the price should go up.\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">However, an on-chain assessment of LTC\u2019s network activity since the halving event revealed a decline in demand for the alt. Per data from S<a href=\"https:\/\/app.santiment.net\/charts\/FoSzIDuW__sCl\" target=\"_blank\" rel=\"noopener nofollow\">antiment<\/a>, yesterday, the count of daily active addresses that traded LTC dropped by 9%. In the early trading hours of today, this had dropped by another 68%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Likewise, transaction count also dwindled. With 127,110 LTC transactions completed on the day of the halving, a 5% decreased was registered.<\/span><\/p>\n<figure id=\"attachment_583488\" aria-describedby=\"caption-attachment-583488\" style=\"width: 3840px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-583488\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023.png 3840w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023-300x102.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023-1024x347.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023-770x261.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023-1536x520.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023-2048x693.png 2048w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023-500x169.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023-269x91.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023-746x253.png 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Litecoin-LTC-08.37.56-03-Aug-2023-1376x466.png 1376w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" title=\"\"><figcaption id=\"caption-attachment-583488\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">On the daily chart, LTC selling momentum rallied. The coin\u2019s Relative Strength Index (RSI) and Money Flow Index (MFI) were 39.44 and 39.39 respectively. Below their neutral lines and trending downwards at press time, it indicated that more traders sold their LTC holdings than bought them.<\/span><\/p>\n<figure id=\"attachment_583486\" aria-describedby=\"caption-attachment-583486\" style=\"width: 2776px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-583486\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04.png\" alt=\"\" width=\"2776\" height=\"1160\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04.png 2776w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04-300x125.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04-1024x428.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04-770x322.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04-1536x642.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04-2048x856.png 2048w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04-500x209.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04-269x112.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04-746x312.png 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-03-at-08.33.04-1376x575.png 1376w\" sizes=\"(max-width: 2776px) 100vw, 2776px\" title=\"\"><figcaption id=\"caption-attachment-583486\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin completed its third halving event on 2 August. Its LTC coin has, however, failed to react positively. Litecoin [LTC] failed to log any significant price reaction following the network\u2019s third halving event yesterday. At press time, the coin ranked as the fourth crypto asset with the most declines in the last 24 hours, per data from CoinMarketCap.\u00a0 Much ado about nothing In its 12-year history, Litecoin completed its third halving event on 2 August. The event led to a [&hellip;]<\/p>\n","protected":false},"author":63,"featured_media":583489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583485"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=583485"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583485\/revisions"}],"predecessor-version":[{"id":583495,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583485\/revisions\/583495"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/583489"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=583485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=583485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=583485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}