Litecoin, the cyptocurrency that is currently on the number 8 spot on the cryptocurrency ranking list, has just added a brand new feather to its cap.
The cryptocurrency has recently crossed the mark of 60 million, with regard to mining and circulation. Currently, more than 60 million LTC have already been mined, which is a great step ahead in the development of a Litecoin ecosystem.
Litecoin has been adjuged a great investment to make in 2019, and one of the reasons why, is the growing popularity of the cryptocurrency and people’s willingness to mine the digital currency.
There are more than 5 reasons why one should invest in Litecoin but one of them is definitely because its estimated growth in market value, owing to this recent development.
Since more and more Litecoin is being mined, it can be expected that the upper limit shall soon be reached. Out of the available supply of 84 million, 60 million has already been mined, as of January 13th.
This only means that there will be a rush in the market amidst miners to get their hands on Litecoin which is deemed as a valuable asset.
Dating back to almost October of 2011, Litecoin Mining has emerged as a supremely profitable activity. Even after 7 long years on the market, the cryptocurrency has held its position as one of the better-known digital assets of the crypto realm.
So this milestone is a big one, that signals the continued dominance of the cryptocurrency.
Franklyn Richards, Litecoin Foundation Director has remarked:
“This also marks the point at which there are only 3M more Litecoin to go until the halving, which will see the Block reward fall from 25 Litecoin to 12.5 Litecoin. The halving is estimated to take someplace this August when 75% of the total Litecoin supply has been mined,” wrote
We are hopeful for a progressive journey for Litecoin in the future as well.
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