Litecoin Rallies 22% But Is a Correction Incoming?
Litecoin (LTC) is often called “digital silver” to Bitcoin’s (BTC) “digital gold.” Since January 1 of this year, LTC has rallied by almost 53%. Moreover, the asset has gained as much as 22.2% over the previous week. On the yearly charts, the token is up by 114.1%. It is pretty clear that the crypto markets are currently following Bitcoin (BTC). The latest positive sentiment around BTC is attributed to BlackRock’s filing of a Spot Bitcoin ETF. However, Litecoin (LTC) also has a few positive developments in its corner. Firstly, LTC will undergo its halving event on August 10, almost a month from now. The event will cut LTC rewards in half. Usually, halving events lead to a surge in price as the supply slowly reduces. Many expect LTC to follow the pattern and see a halving rally soon. Also Read: What to Expect from LTC Halving in 2023? Moreover, Litecoin’s (LTC) hash rate has almost doubled since July 2022. LTC’s hash rate curr...