Share this article
Litecoin Network Experiences First Mining Reward Decline
The reward miners will receive for processing transactions on the litecoin blockchain halved yesterday, dropping from 50 LTC to 25 LTC.
By Stan Higgins
Updated Sep 11, 2021, 11:50 a.m. Published Aug 26, 2015, 5:59 p.m.
Make us preferred on Google
Litecoin's block reward has halved.
At block 840,000, the mining reward fell from 50 LTC per block to 25 per block, marking the first time the alternative cryptocurrency, launched in 2011, has seen such a reduction. The 840,000th block was mined by F2Pool, also known as Discus Fish.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Litecoin supporters took to social media to celebrate the halving, and creator Charlie Lee thanked Chinese supporters in a YouTube message.
For now, the network itself doesn't appear to have been significantly affected by the reward drop, though some have speculated that, long-term, the hashrate will fall as profitability for some miners declines.
The litecoin network hashrate saw some fluctuation but is within ranges seen over the past several days, according to CoinWarz.
Markets reacted more significantly around the time of the halving. According to BitcoinWisdom data for OKCoin, litecoin prices in Chinese markets fell sharply but have since seen recovery at press time.
Speculation as to what comes next varies.
Some have predicted a long-term price increase, whereas others see further declines to come after the LTC market ramped and subsequently plunged earlier this summer as concerns about Chinese investment fraud mounted.
External factors in China - the largest market for litecoin – could fuel further volatility in markets moving forward, as the country's stock markets slip further into turmoil.
Images via BitcoinWisdom, CoinWarz, Flickr
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
BNB rises 2.5%, nears $900 mark as prediction market growth signals utility expansion
A new physically backed BNB exchange-traded product launched on Nasdaq Stockholm, adding to existing investment options.
What to know:
- BNB token climbed 2.5% to $89e, approaching the $900 resistance level, with increased trading volume suggesting fresh buying interest.
- A new physically backed BNB exchange-traded product launched on Nasdaq Stockholm, adding to existing investment options like Grayscale's pending ETF filing.
- BNB Chain saw significant growth in prediction markets, with platforms like Opinion Labs logging over $700 million in 7-day trading volume and cumulative trading volumes crossing $20 billion.
Top Stories
