Before its token swap in 2019, Madbyte coin was a cryptocurrency that used the same protocol as Litecoin.
Litecoin (LTC) is similar to Bitcoin but with faster transactions and lower fees. It also has a halving event every four years, which cuts the amount of new coins created by 50%. The next halving date is expected to happen on August 6, 2023, when the block reward will drop from 12.5 to 6.25 LTC. Historically, the Litecoin halving has boosted the price of LTC, as it reduces the supply and increases the demand for the coin. For instance, in 2015, the first Litecoin halving took place and the price of LTC rose by about 400% in the months before it. In 2019, the second Litecoin halving occurred and the price of LTC climbed by about 500% in the months before it. However, the price also tends to drop after the halving, as some miners may sell their coins to cover their costs or leave the market due to lower profitability. Therefore, the Litecoin halving is a crucial event for investors and traders to monitor, as it may create opportunities for profit or loss depending on the market conditions and expectations.
All the best,
Madbyte Team
