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Litecoin celebrates the issue of 60,000,000 coins with another sale

  • There are over 71% of the coins in circulation now.
  • Litecoin is preparing to halve the block's reward.

The Litecoin system exceeded an important milestone on 12 January when 60,000,000 were drawn. Considering that Litecoin has a limited issue of 84 million LTC, at present, there are over 71.5% of the total coins in circulation, according to data provided by LitecoinBlockHalf.

Furthermore, it means that there are only 3 million coins to be extracted before the block's reward is halved from 25 LTC to 12.5 LTC.

"The halving is estimated somewhere in August, when 75% of Litecoin's total supply has been extracted, at the current rate of return it takes about 70 days to mint 1M of Litecoin in circulation and after halving, this time it will double for ~ 140 ", the company announced in its blog post.

The halving is estimated for August 8, 2019, as 75% of Litecoin will be withdrawn at that time. Moreover, considering the current extraction speed, all Litecoin will be put into circulation somewhere in the middle of 2020.

"Since Litecoin is deflationary, we will not see the milestone of the 70M up to about 1330 more days, or around the middle of 2022. It is estimated that the final Litecoin is extracted in 2142 according to the mathematics of the system, at this point 0, 00000042 Litecoin will be the reward for the blockade, "wrote the company.

It is also worth noting that the developers of Litecoin expect to reduce transaction costs of Litecoin by ten times with the release of Litecoin Core 0.17. The news was announced in October 2018.

At the time of writing, Litecoin is changing hands at $ 30.66, which is 6% lower than the previous day. The currency occupies the 8th place in the cryptocurrency rating with a market value of $ 1.8 billion.

LTC / USD, 4-hour chart

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