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Litecoin is fast approaching its halving event, with only 27 days until its block reward "halves" from 12.5 LTC to 6.25 LTC.
According to OKLink, the third Litecoin halving event will happen on or around Aug. 2, 2023. OKLink gives the countdown for this event to be 27 days, and there are currently 15,679 blocks remaining until Litecoin's halving.
On July 3, Litecoin shared a countdown to the much-anticipated event, saying, "Just 30 days till the Litecoin Halving." A deduction from then until now gives a countdown of 27 days.
As the halving event nears, on-chain analytics firm Santiment observes a steady growth in Litecoin's millionaire addresses. Per a chart posted by Santiment, 32 millionaire addresses holding 10,000 LTC or more have popped up in the last five months, representing a 6% increase.
⚡ #Litecoin's #millionaire addresses are continuing to increase in number, as the #halving is within a month away now. Prices corrected over the #4thofJuly break, but don't be surprised if another $LTC rally happens with all of this #whale accumulation. https://t.co/L7MEhgPrTU pic.twitter.com/83wc2zkiCC— Santiment (@santimentfeed) July 5, 2023
Santiment highlights the possibility of another rally if whale accumulation continues to gain ground.
Litecoin saw an impressive surge in late June after being one of the lucky four chosen for EDX Markets, a crypto exchange backed by major Wall Street players Charles Schwab, Citadel Securities and Fidelity Digital Assets.
64% of Litecoin holders are in profit
The Break Even Price indicator from IntoTheBlock looks at realized gains and losses based on on-chain data for addresses that are currently holding a crypto-asset - Litecoin, in this context. This indicator provides an aggregate of holders' realized gains and losses for LTC.
At a current LTC price of $100, 5.65 million addresses, or 64.24%, have realized gains or are in profit. A total of 2.74 million LTC addresses, or 31.14%, are in losses. Meanwhile, 405,970 addresses, or 4.62%, are at break-even. This implies they are neither in losses nor profits.
Out of the total Litecoin addresses, 51% are long-term holders who have held onto their LTC assets for more than a year. Forty-two percent have held for one to twelve months, while 7% have held for less than a month.