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The entire cryptocurrency market started the new year with green pain, with some of the coins rising to double digits. However, the bear managed to regain control in the market, as many coins were seriously injured due to his attack. Even better coins like Bitcoin [BTC], Ethereum [ETH], XRP and Litecoin [LTC] succumbed to the bear's attack.
litecoin [LTC], a leading cryptocurrency in the market, known as Vegeta to Bitcoin [BTC]Goku, is depicted bleeding the market. The currency has lost its offer beyond the seventh position by market capitalization in Tether [USDT] and is currently positioned at the eighth position.
According to CoinMarketCap, Litecoin traded at 32.29 at the time of printing, with a market capitalization of $ 1.93 billion. The cryptocurrency has a trading volume of $ 551.6 million and has plunged by more than 6% over the past seven days.
Despite the negative price movement, the currency marked an important milestone today, 12 January 2019. The blockade of Litecoin # 1560000 has extracted the 60,000,000 [60 million] Litecoin today. This means that over 71.44% if the currency has already been extracted and only 24 million coins can be extracted from the miners, as the total coins that can be extracted are set at 84 million.
Total Litecoin Extract | Source: Litecoinblockhalf
In addition, according to Litecoinblockhalf, the next block premium will take place in approximately 207 days, in which around 3 million coins will be included in the total coins in circulation. The block premium will effectively drop from 25 Litecoin to 12.5 Litecoin.
Source: Reddit
To this, Fantom1992 said:
"To clarify more, we think last Christmas when the demand was quite high and the price of litecoin In 20 years the offer will not increase much, but the demand can effectively continue to increase. it's a good thing for the price "
Toyake, a Redditor said:
"And 100% is owned by less than 1.4 million people, 70% of the total supply in the hands of less than 1/10 of the world's 1%. this way ensures that global adoption is off the table. "
Rengeki, a Twitterati said:
"I'll just wait for you to start bubbling and all these hoarders try to cash in for fiat and accumulate another crpyto coin like bitcoin – literally an inflation scam.
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