Litecoin celebrates the issuance of the 60,000,000th coin with another sell-off


  • There are over 71% of coins in circulation now.
  • Litecoin is getting ready for block reward halving.

Litecoin system passed an important milestone on January 12 as 60,000,000 was mined. Considering that Litecoin has a limited issuance of 84M  LTC, currently, there are over 71.5% of the total amount of coins in circulation, according to the data provided by LitecoinBlockHalf.

Also, it means that there are only 3M of coins to be mined before the block reward is halved from 25 LTC to 12.5 LTC.

"The halving is estimated to take someplace this August when 75% of the total Litecoin supply has been mined. At the current reward rate it takes ~70 days to mint 1M new Litecoin into circulation and after the halving, this time will double to ~140," the company announced in its blog post.

The halving is estimated to take place on August 8, 2019, as 75% of Litecoin issuance will be mined by that time. Also, considering the current mining speed, all Litecoins will be released in circulation somewhere in the middle of 2020.

"Since Litecoin is deflationary we won't see the 70M milestone until approximately 1330 more days have passed, or sometime in mid-2022. The final Litecoin is estimated to be mined sometime in 2142 according to the mathematics of the system, at this point 0.00000042 Litecoin will be the block reward," the company wrote.

It is also worth noting, that the Litecoin developers plan to reduce transaction fees in Litecoin network ten times with the release of Litecoin Core 0.17 update. The news was announced in October 2018.

At the time of writing, Litecoin is changing hands at $30.66, which is 6% lower than the day before. The coin takes the 8th place in cryptocurrency rating with a market value of $1,8B.

LTC/USD, 4-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD trapped under short-term trendline

Bitcoin (BTC) is changing hands at $9,750, mostly unchanged both on a day-to-day basis and since the beginning of the day. The first digital asset recovered from Monday's low of $9,469, however, an upside momentum faded away on approach to $9,800. 

More Bitcoin News

NEO/USD bullish following Binance Futures support

NEO is in the green on Monday during the European trading session. The bullish momentum is taking action after a couple of days of the bulls enduring battering from the bears.

More NEO News

ETH/USD tug of war at $270 intensifies as $280 beckons

Ethereum managed to stay above the support at $240 during the bearish Monday. Also contributing to the support was the long term ascending trendline. The recovery from the support has been steady enough to hit levels slightly above $270. 

More Ethereum News

Ripple Price Analysis: XRP/USD is bearish as long as it stays below $0.30

XRP/USD recovered to $0.2950 during early Asian hours only to retreat to $0.2850 by the time of writing. Despite the sell-off, the third-largest digital asset is still nearly 2% higher from this time on Monday and mostly unchanged since the beginning of the day. 

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls brace for jump to $11,000

Bitcoin (BTC) has been growing for three weeks in a row. The first cryptocurrency hit $10,504 on Thursday - the highest level of 2020.

Read the weekly forecast

BTC

ETH

XRP