Lately, Litecoin had reached its highest point at $125 in over a year and now has reached the $140 mark. This rise represented a 10% gain in only 24 hours. This can only indicate that it is going to continue to increase in the future. Because since June 4 it has risen by 30% in value from $97.
In the meantime, the world-leading cryptocurrency BTC in the same time frame has only gained 7%.
This rise in value could be associated with the mining reward being cut in half in less than 60 days and it could increase even more when on August 8th it is planned to cut it in half again reducing the reward per block from 25 coins to 12.5.
It is also worth letting you know that LTC’s non-price metrics are experiencing solid growth. The hash rate has hit a new lifetime high of 400 trillion hashes per second.
As also visible by this chart provided by coindesk, LTC has experienced staggering growth over the last month and is continuing its path to new heights. It is also worth noting that the LTC price is affected by the value of BTC.
