Litecoin growth goes unnoticed amidst Ethereum upgrade hype; expect this from the next halving

• Litecoin price over the last four weeks has increased by more than 40% to trade at $97.
• LTC adoption took a hit in October last year when 1 million investors exited the market.
• The upcoming Litecoin halving would act as a bullish event for LTC and could attract investors’ attention, resulting in a potential rally. 

Litecoin is one of the only few cryptocurrencies that has managed to stay on track of making growth slowly and quietly, unlike other altcoins. However, going forward, this is expected to change as Litecoin prepares for a crucial update after nearly four years.

Litecoin in the last few weeks

While the crypto market has been gripped with discussions about regulatory crackdowns, Ethereum Shanghai upgrade, and the possibilities of an alt season, Litecoin has been rising undetected. 

In the span of a month, the altcoin registered a 40% growth in price action rising from $69 to $97. Not only did it mark a solid rally, but it also managed to outperform some of its competitors, including the likes of Avalanche, Polkadot and Tron, whose rallies in the same duration have been less than 40%.

LTC/USD 1-day chart

But this is not the end for Litecoin as LTC stands to be the only token to benefit from both a potential alt season and even a Bitcoin season. This is all thanks to its affiliation with the largest cryptocurrency in the world, which also earned Litecoin the title of “Silver to Bitcoin’s Gold”.

Furthermore, Litecoin adoption is also improving again and could significantly benefit from the broader market bullishness. This is crucial for LTC as it hit a snag back in October 2022 when nearly 1 million investors exited the market in less than five days due to unknown reasons. But with the Litecoin halving event coming up, these investors’ presence is expected to increase again.

Litecoin addresses with balance

Litecoin halving could be a price rally trigger

Litecoin halving works the same way as Bitcoin halving does, with the LTC rewards for processing a block set to be reduced by 50% every four years or so. LTC rewards started with 50 LTC and are presently at 12.5 LTC following the last halving in 2019. With the next halving expected within the coming four months, the rewards for processing a block will be reduced to just 6.25 LTC.

This could create higher demand for the altcoin in the market as the supply would become limited going forward. Naturally, this could also set off a potential rally and push Litecoin’s dominance in the crypto market further. 

Although during the last halving, LTC noted no significant growth in its price, the situation could be different this time around as it is the altcoin that recently flipped Binance USD (BUSD) and took the spot of the twelfth biggest cryptocurrency in the world. 

However, at the same time, knowing Litecoin, the event could go unnoticed since the broader market is still concerned with the potential economic recession that could take place over the next four months. The ongoing regulatory crackdown and dominance of Bitcoin and Ethereum on social mentions would also draw attention away from Litecoin, which would actually be in line with the digital asset’s nature.