Litecoin (LTC) miners prepare for halving
LTC miners are preparing for the upcoming halving event, which is scheduled to take place in less than two months. After spending the better part of May offloading their bags, LTC miners seem to have switched to accumulation mode in June 2023. And on-chain data suggests that this has been a key factor in the recent rally of the Litecoin price, which has gained 8% over the past month.
Crypto whales have been joining in on the accumulation wave, which could potentially drive the price of LTC past $100 in the coming days. Between May 22 and June 7, LTC whale transactions have trended 23% upward!
However, there may be initial resistance around $92, and that the bears could negate the bullish LTC price prediction if the critical $86 support level is breached.
The next
BTC halving is in 306 days and less than 2 mln BTC left to mine! Now each block mines ~ 6,5 BTC!
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