Litecoin’s Halvening Price Drop Is No Proxy for Bitcoin Next Year

Litecoin price has always fallen after cutting miner rewards
Some of Bitcoin’s biggest rallies related to its halvenings

LONDON, ENGLAND - APRIL 25: In this photo illustration of the litecoin cryptocurrency 'altcoin' sits arranged for a photograph on April 25, 2018 in London, England. Cryptocurrency markets began to recover this month following a massive crash during the first quarter of 2018, seeing more than $550 billion wiped from the total market capitalisation. (Photo by Jack Taylor/Getty Images)Photographer: Jack Taylor/Getty Images

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By Olga Kharif

August 2, 2023 at 7:35 PM UTC

This article is for subscribers only.

Litecoin, the world’s 11th-biggest cryptocurrency, saw its price slide on Wednesday after it went through a so-called halvening, with the rewards paid to computers supporting its network dropping in half. Don’t expect the same outcome next year when Bitcoin’s own halvening is due.

Litecoin is an offshoot of Bitcoin and their halvenings, designed to reduce the amount of new coin supply entering circulation, occur about every four years. In Litecoin’s process, rewards received by computers supporting its network, called miners, have dropped to 6.25 Litecoins from 12.5. Bitcoin’s halvening is expected next spring.