With the supply of new coins to be halved in less than five weeks, litecoin is outpacing its peers.
The fourth-largest cryptocurrency by market capitalization is currently trading at $123, representing 5 percent gains on a seven-day basis, according to data source CoinMarketCap.
Bitcoin, the top cryptocurrency by market value, is currently reporting a meager 1 percent gain on a weekly basis.
Cardano, down 10 percent, is the worst performing top-10 cryptocurrency over the last seven days.
Binance coin is up a staggering 481 percent on a year-to-date basis, followed by litecoin, up 305 percent.
Litecoin's recent relatively shining performance could be associated with the mining reward halving due on Aug. 6 this year.
After Aug. 6, miners will get 12.5 coins for every block mined - down 50 percent from the current reward of 25 coins.
Notably, the metric is currently up 220 percent from the low of 146.2118 TH/s seen in December.
All-in-all, the market may have largely priced in the reward halving already.
Litecoin image via Shutterstock; charts by TradingView.
Litecoin Outperforms Top-10 Cryptos Ahead of August Reward Halving
에 게시 됨 Jul 4, 2019
by Coindesk | 에 게시 됨 Coinage
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