Whereas most cryptocurrencies keep a very close eye on Bitcoin, Ethereum, and potentially XRP, there are a lot of other markets to take note of as well. Litecoin, while often dismissed as a lesser clone of Bitcoin, is doing a lot of things right. In fact, there are several recent and upcoming developments which show this community is still very much alive and kicking.
The Litecoin Hashrate Spike
One doesn’t have to look for to see how well this popular altcoin is performing these days. While the opinions on Litecoin may always be somewhat divided, no one will deny this project is attracting a lot of positive interest. Especially where cryptocurrency miners are concerned, things are looking very promising for Litecoin as of right now.
More specifically, the project’s hashrate has gone through a major spike in recent weeks. So much even that a new all-time high has been reached this week, which further confirms the demand for LTC is not slowing down as of yet. This would also indicate it is rather profitable to mine LTC at this time, which is another interesting factor worth keeping an eye on.
Positive Price Momentum
Whereas most cryptocurrencies are struggling to note any form of price stability right now, things are a bit different in camp Litecoin. Although this market has seen its fair share of fluctuations this year, it seems it is more than capable of moving up without relying on Bitcoin too much. That in itself makes it stand out from most other markets, for obvious reasons.
With a current value of over $120 per LTC, most holders, speculators, and investors will be quite pleased with how things are going. It is a remarkable turn of events, especially when considering how Bitcoin remains on very wobbly legs. This is also the primary reason why LTC has entered the market cap top 4 again, as it overtook Bitcoin Cash without much of a struggle.
The Upcoming Block Reward Halving
Similar to Bitcoin, Litecoin undergoes block reward halving events on a regular basis. The upcoming reward halving will cut the block reward from 25 to 12.5 LTC. Whether or not this will have a significant impact on this altcoin and its value or market cap, is very difficult to predict. A lot of community members have high hopes in this regard, but there is no guarantee anything will come of it.
To put this in perspective, there are still over 56 days to go until the halving occurs. As such, there is a lot of time between now and that event, a time during which market conditions can change significantly. It will also be interesting to see how the network’s hashrate is affected when this halving goes into effect.
Full Nodes on Tor are a Thing
When it comes to running a cryptocurrency full node, there are many different ways to go about things. It seems some Reddit users are intent on doing so through Tor, for additional privacy and anonymity. Setting up such a node is not overly difficult, as it can be done by following the Bitcoin full node Tor guide and replacing it with the Litecoin client.
Although this may appear to be a niche project, it still shows users are keen to explain different opportunities to make a difference. Additionally, this seems to indicate the Litecoin network is still growing and expanding, which is all its community can ask for. It seems unlikely many people will start to explore this option, but it is still good to know it is certainly a feasible solution for those who like a more hands-on approach.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
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