Today, the long-awaited halving will take place in Litecoin, which is called digital silver.
Created as a fork of Bitcoin in 2011, the LTC network will go through its third halving today, and Litecoin's blockchain reward per block will drop from 12.5 LTC to 6.25 LTC.
Compared to the other two halvings historically, this halving moves unexpectedly before the halving event.
Because LTC, unlike Bitcoin and Ethereum, is at about $ 91.00 with less rise.
As the countdown started in LTC, Litecoin evaluation came from Santiment.
Accordingly, Santiment stated that there may be a “buy the rumor, sell the news” situation in Litecoin.
At this point, we see that investors who bought the expectation before an event took place increased the price, and the price decreased with the sales after the expectation ended.
Noting that LTC may be experiencing a “buy rumors, sell news” scenario, Santiment stated that Litecoin's social dominance is increasing.
“Litecoin is living the sell-the-rumor scenario with less than 9 hours until the halving at 16:34 UTC?
Social dominance jumped predictably, with many showing signs of panic. It's getting harder for investors to be patient with the volatility that may arise.”
Litecoin founder Charlie Lee expects post-halving LTC supply to decrease and demand to increase, which he thinks will potentially trigger a massive rally.
According to Lee, these deflationary halvings are helping mass adoption without compromising network security.
*Not investment advice.