Litecoin Hashrate Taps New All-Time High, Will LTC Price Follow Suit?

2023-8-8 02:00

The Litecoin hashrate has been going up steadily over the last year. This was mainly driven by the anticipation leading up to the Litecoin halving that was slated to take place in August. Now that the halving event has come and gone, the hashrate has risen to a new all-time high, but the question is, whether the price of LTC will follow suit.

Litecoin Hashrate Taps New ATH Of 1.03 PH/s

The steady rise in the Litecoin hashrate is a testament to the growing interest in the network. The hashrate points to the fact that there are more miners on the blockchain trying to guess the correct answers to each block. And this translates to better security overall for the Litecoin network.

Interestingly, this increase in hashrate has seen the network hit not only a new all-time high but a significant milestone. According to data from CoinWarz, the Litecoin hashrate rose as high as 1.03 pentahashes per second (PH/s) on August 4.

This means that for the first time, LTC’s hashrate has left the terahashes per second (TH/s) territory and crossed into the pentahashes per second (PH/s) territory. Although it is still a long way from Bitcoin’s exahashes per second (EH/s), it is a testament to how much the Litecoin network has grown.

The Litecoin hashrate has since retraced back into the TH/s territory, now sitting at 739.88 TH/s as of Monday, August 7. But a look over the last year’s hashrate chart shows that even this is a high level for the blockchain’s hashrate.

Will LTC’s Price Follow The Hashrate?

Since the Litecoin hashrate hit its new all-time high, the price of LTC has been more volatile than normal. This is not out of the ordinary though as the altcoin has been following the general market trend and LTC’s is a testament to that trend.

So far though, it doesn’t seem like LTC has made any effort to break out of this trend. If anything, it has suffered more declines than recoveries, even dipping to as low as $$80.65 on August 4. This decline shows that the new hashrate ATH has not moved investors to invest more in the coin.

For now, something that could lead to an uptrend for Litecoin’s price is if Bitcoin begins another rally and the crypto market starts to see improved sentiment. Otherwise, LTC will likely continue to toe the $82 line for the better part of the week.

At the time of writing, LTC price is trading at $82.80, down 0.47% in the last day and 11.67% in the last week.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Litecoin (LTC) на Currencies.ru

$ 80.57 (-0.22%)
Объем 24H $347.221m
Изменеия 24h: 1.55 %, 7d: -1.42 %
Cегодня L: $78.36 - H: $80.74
Капитализация $6.005b Rank 19
Цена в час новости $ 82.11 (-1.88%)

litecoin hashrate halving suit follow high new

Источник: newsbtc.com

litecoin hashrate → Результатов: 52


Litecoin not in danger of a 51% attack despite bottomed hashrate

After more than 66 percent of its value got slashed since its August halving, Litecoin saw its hashrate drop from its peak of over 500 TH/s to just 150 TH/s. However, the network’s drastically reduced computing power doesn’t make it vulnerable to a 51 percent attack, data has shown, as its low price wouldn’t justify […] The post Litecoin not in danger of a 51% attack despite bottomed hashrate appeared first on CryptoSlate.

2019-12-6 20:55


Litecoin Achieves New Heights As Lightning Strikes Twice

Litecoin, the sixth-largest cryptocurrency asset by market capitalization, has recently set a new high in mining hashrate – and a new record number of Lightning nodes. The eight-year-old cryptocurrency continues to defy predictions of its demise, with new adaptations like Mimblewimble and the Lightning Network demonstrating its viability against other altcoins.

2019-4-16 22:12


Фото:

Хешрейт сети Litecoin вышел на новый исторический максимум

Хешрейт сети Litecoin обновил в этом месяце предыдущий рекордный показатель, зафиксированный в конце мая 2018 года. Как говорится в блоге Litecoin Foundation, произошло это 4 апреля, когда совокупная мощность сети составила 359.

2019-4-13 23:01


Фото:

‘Real Risk’: Blockstream Exec Warns Over Bitcoin Cash 51 Percent Attack

Bitcoin Cash (BCH) average hashrate over the past week has fallen below 8 percent of Bitcoin’s (BTC), while Blockstream compares the altcoin to a five-year-old Litecoin hard fork.   Feathercoin? Is That You? In comments on Twitter today, Blockstream VP solutions lead Warren Togami sounded the alarm over BCH — warning its low average hashrate placed investors at risk of double spend attacks from malicious parties.

2018-9-4 16:00


дальше еще 3 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Crypto Analyst Puts Litecoin Price At $84, Here’s The Timeline

Since its third halving event was successfully completed in early August, the Litecoin price has fallen off the radar of crypto investors. This was mainly due to the price decline that LTC experienced after heavy profit-taking from investors who had invested leading up to the price surge triggered by the expectations around the halving.