Litecoin Surges By 17%, LTC Halving On the Horizon

• LTC is currently experiencing price fluctuations, with a 2.2% decrease over the past 24 hours.
• It has managed to surpass the significant price level of $100, reaching a weekly high of $113.
• LTC has achieved an impressive 18% growth in the same timeframe.

Litecoin (LTC) is currently experiencing price fluctuations. Over the past 24 hours, the digital currency has seen a decrease of 2.2%, trading at $98.14. Despite the recent volatility, Litecoin has demonstrated growth of 17% on the weekly chart.

The broader cryptocurrency market has witnessed a mix of positive and negative factors impacting investor sentiment. In this environment, Litecoin managed to surpass the psychologically important price level of $100, reaching a weekly high of $113.

When compared to its peers, such as Bitcoin (BTC) and Ethereum (ETH), Litecoin’s 18% growth outshines Bitcoin’s 0.78% price decline and Ethereum’s marginal 1.63% growth within the same timeframe.

Litecoin halving just around the horizon

Litecoin’s halving event is approaching rapidly, with only 27 days remaining until its block reward is reduced from 12.5 LTC to 6.25 LTC. According to OKLink, the third LTC halving event is expected to occur around August 2, 2023.

The countdown to the event currently stands at 27 days, with 15,679 blocks remaining until the halving. On July 3, LTC shared a countdown to the event, stating, “Just 30 days till the Litecoin Halving.” Therefore, the countdown is now at 27 days.