Litecoin Hashrate Taps New All-Time High, Will LTC Price Follow Suit? By Orbit Brain August 7, 2023 0 114 views The Litecoin hashrate has been going up steadily over the past yr. This was primarily pushed by the anticipation main as much as the Litecoin halving that was slated to happen in August. Now that the halving occasion has come and gone, the hashrate has risen to a brand new all-time excessive, however the query is, whether or not the worth of LTC will comply with swimsuit.Litecoin Hashrate Faucets New ATH Of 1.03 PH/sThe regular rise within the Litecoin hashrate is a testomony to the rising curiosity within the community. The hashrate factors to the truth that there are extra miners on the blockchain making an attempt to guess the right solutions to every block. And this interprets to higher safety total for the Litecoin community.Associated Studying: Ethereum Worth Might Break Above $2,000 If This OccursApparently, this enhance in hashrate has seen the community hit not solely a brand new all-time excessive however a major milestone. In accordance with information from CoinWarz, the Litecoin hashrate rose as excessive as 1.03 pentahashes per second (PH/s) on August 4.Because of this for the primary time, LTC’s hashrate has left the terahashes per second (TH/s) territory and crossed into the pentahashes per second (PH/s) territory. Though it’s nonetheless a good distance from Bitcoin’s exahashes per second (EH/s), it’s a testomony to how a lot the Litecoin community has grown.The Litecoin hashrate has since retraced again into the TH/s territory, now sitting at 739.88 TH/s as of Monday, August 7. However a glance over the past yr’s hashrate chart reveals that even this can be a excessive degree for the blockchain’s hashrate.LTC hashrate stays excessive in comparison with 2022 | Supply: CoinWarzWill LTC’s Worth Observe The Hashrate?Because the Litecoin hashrate hit its new all-time excessive, the worth of LTC has been extra unstable than regular. This isn’t out of the atypical although because the altcoin has been following the overall market pattern and LTC’s is a testomony to that pattern.To this point although, it doesn’t appear to be LTC has made any effort to interrupt out of this pattern. If something, it has suffered extra declines than recoveries, even dipping to as little as $$80.65 on August 4. This decline reveals that the brand new hashrate ATH has not moved buyers to speculate extra within the coin.Associated Studying: Bitcoin Investor Sentiment Flips Towards Greed Regardless of Fall Beneath $29,000For now, one thing that might result in an uptrend for Litecoin’s value is that if Bitcoin begins one other rally and the crypto market begins to see improved sentiment. In any other case, LTC will doubtless proceed to toe the $82 line for the higher a part of the week.On the time of writing, LTC value is buying and selling at $82.80, down 0.47% within the final day and 11.67% within the final week.LTC value trending at $82.42 | Supply: LTCUSD on Tradingview.comFollow Best Owie on Twitter for market insights, updates, and the occasional humorous tweet… Featured picture from iStock, chart from TradingView.comShare this:FacebookXPrintEmailLinkedInRedditTwitterTumblrPinterestTelegramWhatsApp Orbit Brainhttps://orbitbrain.com/ Orbit Brain is the senior science writer and technology expert. Our aim provides the best information about technology and web development designing SEO graphics designing video animation tutorials and how to use software easy waysand much more. Like Best Service Latest Technology, Information Technology, Personal Tech Blogs, Technology Blog Topics, Technology Blogs For Students, Futurism Blog.
SEI Price Soars Over 80% – How High Will The Altcoin Climb In 2024?Introducing the Cryptocurrency SEI Price Soars Over 80% – How High Will The Altcoin Climb In 2024?.... January 2, 2024 Cryptocurrency
LINK Price Surge Ahead? Chainlink Sharks Bet Big On AccumulationIntroducing the Cryptocurrency LINK Price Surge Ahead? Chainlink Sharks Bet Big On Accumulation.... September 8, 2023 Cryptocurrency
Bitcoin And Crypto Face Pressure: Impact Of Rising Real YieldsIntroducing the Cryptocurrency Bitcoin And Crypto Face Pressure: Impact Of Rising Real Yields.... August 24, 2023 Cryptocurrency
ADA Price Ready To Soar As Cardano Network Hits New 88.6 Million Transaction MilestoneIntroducing the Cryptocurrency ADA Price Ready To Soar As Cardano Network Hits New 88.6 Million Transaction Milestone.... April 6, 2024 Cryptocurrency
Do Polkadot (DOT) Price Struggles Mean More Gains for Celestia (TIA) and Pushd (PUSHD) This Month?Introducing the Cryptocurrency Do Polkadot (DOT) Price Struggles Mean More Gains for Celestia (TIA) and Pushd (PUSHD) This Month?.... January 20, 2024 Cryptocurrency
Shiba Inu Price Spiral: 91% Of Investors Brace For Significant LossesIntroducing the Cryptocurrency Shiba Inu Price Spiral: 91% Of Investors Brace For Significant Losses.... October 16, 2023 Cryptocurrency
The Next Shiba Inu and Dogecoin? Dogecoin20 ICO and the Promise of Millionaire ReturnsMarch 20, 2024 70