LTC - This Sneaky Crypto Could Have Explosive Upside Potential in 2023
At a time when nearly every major crypto is declining in price, Litecoin (CRYPTO: LTC) has experienced a recent surge in value. Litecoin is up more than 30% over the past 30 days and, as a result, just became the No. 13 crypto by market capitalization. By way of comparison, Bitcoin (CRYPTO: BTC) is down 17% and Ethereum (CRYPTO: ETH) is down 15% over this same time period. Clearly, this recent price performance from Litecoin is worth a closer look.
The major impetus for this month-long surge could be related to Litecoin's upcoming "halving," which is tentatively scheduled for August 2023. With less than a year to go, investors may be positioning themselves for a huge breakout move to the upside that typically accompanies every Litecoin halving. Let's take a closer look at what this means if you are thinking about buying Litecoin.
When Litecoin was originally created in 2011, it was designed to be a form of "Bitcoin Lite," hence the name. While there are a few key differences between these two cryptocurrencies, one feature is unchanged: the halving. This refers to a change in the rate at which new coins are being added to the current circulating supply. Approximately every four years, the rate at which new coins are added drops by exactly one-half. The first halving for Litecoin took place in 2015 and the second in 2019. All of this is programmed algorithmically, and nobody can change the schedule.
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This Sneaky Crypto Could Have Explosive Upside Potential in 2023