Litecoin (LTC) is showing serious growth: its price has again approached the three-digit mark.
At the beginning of 2023, the Litecoin network achieved important on-chain performance. The 141 millionth transaction was carried out in it, and the total volume of transfers exceeded $1 trillion.
Technical and fundamental indicators of Litecoin have improved significantly
The hashrate of the Litecoin network last week reached an all-time high: over the past 12 months, it has increased by 85% and amounted to 670 TH / s (terahesh per second). Mining difficulty, which measures the competition between miners, is also near peak levels.
According to Messari Senior Analyst Tom Dunleavy, LTC outperformed Bitcoin and Ethereum on the 3-month and 1-year timeframes.
The sharp increase in indicators may be associated with the upcoming Litecoin halving. It will take place on August 3, 2023 – in just 190 days. The halving will reduce the block reward from 12.5 LTC to 6.25 LTC.
What to expect from LTC price
Since the beginning of 2023, Litecoin has grown by more than 30%. On January 23, the price of the asset reached an eight-month high at $92. If the market rally continues, LTC could reach $100 within the next week. If you open the chart on higher timeframes, the scenario of asset price movement becomes even more bullish.
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