Litecoin has hit a major jackpot in its network transactions. The network has just processed the 170th million transactions according to a tweet posted by Litecoin’s Twitter account. This shows that there is rapid growth in the Litecoin network. About a million transactions take place each week.
The #Litecoin network just processed its 170 millionth transaction! Which means Litecoin is accelerating, adding another 10 million in the last 7 weeks. Well over a million transactions a week. #SaturdayVibes
— Litecoin (@litecoin) July 15, 2023
This is a huge step towards development as Litecoin has never fallen to a low level in its more than 11 years time of being up. The token goes as the Digital Gold of Bitcoin and it is the only token that is able to toot its own horn when it comes to staying up.
Litecoin Halving Approaching
The Litecoin halving event is up in line and is one of the most awaited experiences. This is going to be the third halving with the first two taking place in 2015 and 2019. There are only 18 days left till the event starts according to a Litecoin Twitter account.
On July 12, an analysis from the IntoTheBlock firm stated that Litecoin had made major progress when it came to search trends. The anticipated Litecoin halving event is expected to have created so much interest among investors. It is going to happen on 2nd August. Currently, there are 9,875 blocks left for this event.
During the event, the mining rewards for Litecoin will reduce from 6.25 LTC TO 3.125 LTC which will be seen as a positive outcome. Litecoin is number 12 in the exchange market.