Only 28% LTC Now Left to be Mined as Litecoin Halving Clock Ticks Down Towards August 2019
According to the data provided by LitecoinBlockHalf, a total of 60 million Litecoin has been mined. The 8th largest cryptocurrency Litecoin (LTC) has reached a new milestone with 71.44 percent of LTC been minted into existence.
As of 12th January 2019, block #1560000 has been mined. According to the Litecoin algorithm, the limit of total Litecoins to be ever produced is set at 84 million. This means, only 23,991,625 LTC i.e. approximately 28 percent are left to be mined now.
The website litecoinblockhalf.com is running a live “Litecoin Block Reward Halving Countdown” that further provides data specifying that on a daily basis 14,400 Litecoin are generated. With 2.5 minutes approximate block generation time, about 576 blocks are generated per day.
Litecoin Halving is Just 7 Months Away
Meanwhile, an important event, Litecoin halving is just over six months away which would adjust the mining reward. The next halving is expected to happen at the beginning of August i.e. around 8th, this year at 10:46:54.
With just about 207 days left for Litecoin halving, the event will see the coin reward decrease from 25 LTC to 12.5 coins.
This means, the final Litecoin is expected to be mined in 2022 as put by Litecoin.com, “It also means since Litecoin is deflationary we won’t see the 70M milestone until approximately 1330 more days have passed, or sometime in mid 2022.”
It further points out, “The final Litecoin is estimated to be mined sometime in 2142 according to the mathematics of the system, at this point 0.00000042 Litecoin will be the block reward.”
Litecoin in 2019
With Litecoin halving coming this year, 2019 seems to have a lot of excitement for Litecoin enthusiast and investors.
The plan also covers utilizing its stake in the German bank WEG in the long term in order to build solutions in the financial sector related to lending, remittance, and microfinance. When it comes to price, the $1.95 billion market capitalization cryptocurrency is currently trading at about $32.
Litecoin price chart, Source: Coinmarket
The silver to Bitcoin’s gold, this cryptocurrency is currently down more than 91 percent from its all-time high at about $360 in December 2017.
This was when Bitcoin and altcoins reached their peaks. However, Litecoin creator, Charlie Lee had warned the enthusiasts to “reign in the excitement” as he said, “if you can’t handle LTC dropping to $20, don’t buy.”