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DOGE Helps Litecoin Hashrate Spike to New All-Time High, LTC Price Rises

Wed, 05/04/2022 - 12:06
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Yuri Molchan
Litecoin hashrate has reached new historic peak; thanks in part to Dogecoin, LTC price goes up
DOGE Helps Litecoin Hashrate Spike to New All-Time High, LTC Price Rises
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Founder of Litecoin Charlie Lee has taken to Twitter to announce that the hashrate of the LTC network has jumped to a new all-time high.

Its hashrate has reached a staggering 500 TH/s (513 TH/s at the time of writing, according to Bitinfocharts).

This is partly due to Dogecoin miners, he added. This is called merged mining as transactions for both coins are verified simultaneously and miners receive rewards from both chains.

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When a DOGE fan suggested Lee should change his Twitter background picture into something featuring Dogecoin, the LTC founder responded that he would consider doing so as soon as such a picture is ready.

Besides, he has explained that DOGE outran LTC by market cap, saying that the "meme game is strong."

Litecoin is ranked 22nd by CoinMarketCap at the moment and is changing hands at $102.76 per coin. The price of the coin has risen from $99 to that level today on the news of the hashrate ATH.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.