HomeNewsBCH and LTC Gear Up Before Bitcoin Halving

BCH and LTC Gear Up Before Bitcoin Halving

- Advertisement -
  • BCH faces its next halving, triggering massive sales by miners; its reserves decreased from 9.2M to 6.65M BCH.
  • In the face of BTC halving, LTC shows a significant increase, with whale holdings approaching an all-time high.

Bitcoin Cash (BCH) peaked at $527 on March 3, but has recently shown a different trend than the rest of the market, highlighting the importance of the approaching halving event. Despite theoverall uptrend in the market, BCH has struggled to maintain this momentum over the past week. Historical data suggests how the halving event could influence the price.

Bitcoin Cash follows a cycle of halving rewards every four years or 200,000 blocks. The next event is scheduled for April 4, 2024. Currently, the reward per block is 6.25 BCH, which will be reduced to 3.13 BCH. This network adjustment has prompted a massive sell-off by miners, reducing their holdings significantly from 9.2 million BCH to 6.65 million.

Regarding Litecoin (LTC), interesting behavior has been observed in anticipation of its own halving. With Bitcoin’s halving less than two months away, there is speculation that mining resources may shift to alternative networks such as BCH and LTC, seeking better returns. This has resulted in growth in LTC, by a 28% increase in its price in just 48 hours, which pushed LTC above $95, before stabilizing at $85.

Litecoin whale holdings have approached an all-time high of 34.4 million LTC, nearly reaching all-time highs. This movement by key investors suggests a positive expectation towards the future value of post-halving LTC.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: [email protected] Phone: +49 160 92211628