Litecoin (LTC) is often described as the little brother of Bitcoin, because the Coin of 2011 is the result of a Hard Fork of BTC. However, the current state of LTC is not nearly as positive as its big brother, the price according to the China News from last week is again on a high-altitude flight, and also the Hashrate is at an all time high. Quite the opposite: the hash rate of Litecoin has fallen since the summer to 60%. LTC is on a descending Branch?
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Litecoin Hashrate minus 60% since the Halving
Data from BitInfoCharts.com to show a clear picture. 3 months after the Litecoin Halving in August 2019, the Hashrate has fallen by more than 60%. These Figures show a continuation of the downward trend of the LTC hash rate since the summer of this year.Trading crypto-currency CFDs, in the case of Skilling. Bitcoin and Crypto CFDs with competitive Spreads, transparent pricing, and ultra-fast order execution. Most Skilling today and see for yourself.Get started now!
Declining interest in the LTC Miner
This downward trend of the Mining activity is anything other than a positive sign for the Litecoin network. The hash rate is an important indicator for the stability and security of the network, the more miners participate, the safer the network is.Add to this, however, is that this has a downward trend since the Halving in August reinforced. Normally, a Halving Event is considered, as is the case with Bitcoin, as very positive for the network and the price of the Coins, because this increases the rarity of the Assets. However, the decline in the Mining activity of the LTC shows a declining interest of miners.Reason for this could be the also falling Miner profitability. This is currently reached also on a low level. This could have 2 founders: after the Halving, the Miner will now receive less Block rewards, and the Litecoin price could not compensate for the last time this “disadvantage” is really due to rate increases.
Litecoin to the lack of interest
Not only the Miner’s profitability and Hashrate going through at the Moment hard times. Charlie Lee, founder of Litecoin, has admitted in an Interview to wish to participate in the interest of developers on the core Code of the LTC leaves.These challenges LTC faces reflected of course also in the course. Interesting is the comparison to Bitcoin, which reflects the Performance of the entire market, most of the time is reflected here just.Of course, most of the Altcoins were in the past few months in comparison to Bitcoin alt. Nevertheless, the above Chart speaks a clear language. It will be interesting to see how LTC deals with the challenges, because, like last week, one of us reported it could soon be some innovations, such as the MimbleWimble Protocol, in Litcoin network.How do you see the current Situation around Litecoin? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)