Peer-to-peer payments network Litecoin (LTC) is outperforming most of the digital asset markets as LTC bulls anticipate the next halving.
According to on-chain data from BitInfoCharts, the number of daily transactions for Litecoin has increased almost fivefold since May started.

While transactions on the Litecoin network surged, the price of LTC has followed suit and is currently up 13% in the last seven days at time of writing. In the same timeframe, most of the rest of the crypto markets are trading either down or sideways.
The wave of new activity on Litecoin comes as Bitcoin (BTC) struggles with network congestion mostly stemming from ordinals and BRC-20 tokens, a new experiment token standard for Bitcoin.
Litecoin, which was forked from Bitcoin in 2011, is also gearing up for its next halving. Like Bitcoin, the amount of tokens issued per block reward to miners is cut in half roughly every four years, or every 840,000 blocks. Each halving has coincided with price pumps, potentially due to less miner sell pressure or perhaps because of simple speculation.
The next Litecoin halving is estimated to occur on August 2 of this year, and has some analysts bullish on the “digital silver.”
Pseudonymous crypto trader Inmortal recently gave a price target of about $150, which would be roughly a 66% rally from current levels.
“Litecoin go brrrr because halving is in two months.
Every cycle it’s the same.
90 ? 150 ? 60″

Generated Image: Midjourney
Disclaimer: CryptoNewsBook is an online aggregator that fetches latest crypto news from different sources. This article is provided for general information purposes ONLY and contains data fetched from third party sources; hence, we do not endorse its accuracy. For more details, kindly visit The Source. Please report any fake news or false statement to Our Support Team. If you are the original owner of this content and wish it to be removed on this platform, kindly forward your request to Our Support Team.
Also Note: Cryptocurrencies are unregulated, and no part of this article should be understood nor interpreted as a recommendation/advice. #s8