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## [TL; DR]
<a href="/price/litecoin-ltc" target="_blank" class="blog_inner_link">Litecoin</a> whales accumulated much Litecoin in June and July as they anticipated its price to rise after the halving event.

Litecoin halving took place on 2 August 2023.

The LTC price dropped by around 6% on the date of the halving event.

Litecoin halving reduced the miner rewards from 12.5 to 6.25 LTC. 

## Introduction 
A crypto halving event has much significance to investors and the entire cryptocurrency market. The reason is that a halving often reduces the emission of a certain cryptocurrency like Litecoin or <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>. In fact, these are the two cryptocurrencies that use the halving mechanism. 

This article focuses on the behavior of investors before and after the halving event. It will also discuss the price movements of a specific cryptocurrency before and after a halving event. In this case, we evaluate the halving of [Litecoin (LTC)](https://www.gate.io/price/litecoin-ltc "Litecoin (LTC)").

## Litecoin halving 
Over the past few months some Litecoin mid-tier investors have been accumulating more LTC as they anticipated its price to increase [before and after the halving event](https://www.gate.io/learn/articles/litecoin-halving/664 "before and after the halving event") earmarked for 2 August 2023. By 30 July the halving event was only 2,000 blocks away. 

This year’s Litecoin halving event reduced the block rewards from 12.5  to 6.25 LTC. According to Santiment the mid-sized LTC wallets that hold between 100 and 10,000 LTC amassed a total of 205,400 LTC between 14 June and 30 July. The data analytics firm has attributed the increase in LTC accumulation to the halving event earmarked for August. 

By 30 July the Litecoin whales had accumulated 18.18 million LTC, worth more than $1.7 billion. Santiment confirmed that development by its tweet posted on 30 July.

[It stated](https://twitter.com/santimentfeed/status/1685567752348852224 "It stated"), “With #Litecoin's highly anticipated #halving event within arm's reach on Wednesday, key traders holding between $9.5k and $950k worth of $LTC are aggressively accumulating. Like most coin {1692257693800912}, this is being perceived as a #bullish event by traders.”

The following graph summarizes the state of the accumulated LTC by 30 July.
![](https://gimg2.gateimg.com/image/article/16922574796831692257400_.pic.jpg)
Dolphins and Shark Accumulate 205,4K LTC - Santiment

As the picture shows, Litecoin Dolphins and Sharks had accumulated 205.4K LTC by 30 July 2023. They bought and held such large amounts of crypto assets as they believed that the halving event was bullish. According to Santiment’s report, Litecoin miners accumulated over 400, 000 LTC between 1 and 28 July. 

## How Crypto Halving Impacts Prices of the Coins
Basically, halving of a coin like LTC affects the rate at which the cryptocurrency is created leading to a decrease in its supply. The resultant decrease in the specific crypto asset’s supply results in a bullish trend. In fact, the anticipation of the halving event on its own may push the value of a cryptocurrency up. This is the reason why the price of Bitcoin (BTC) gradually rises a year before halving. 

## What is Litecoin Halving?
The Litecoin halving, similar to the Bitcoin halving, occurs after every four years. It involves reducing the rewards the miners get by half thereby decreasing the issuance rate of the coin.

Primarily, halving is coded into the protocol of the Litecoin blockchain. It occurs when a certain number of blocks have been generated. The aim of the halving event is to control the cryptocurrency’s inflation. 

The LTC accumulation and bullish momentum also occurred towards the last two Litecoin halving events that took place in 2015 and 2019. Likewise, the <a href="/price/litecoin-ltc" target="_blank" class="blog_inner_link">Litecoin price</a> surged after each of these two halving events. 

The accumulation of LTC by Litecoin holders indicates that they have confidence in its fundamentals. Charlie Lee, a former Google engineer, developed Litecoin in 2011, making it one of the oldest cryptocurrencies on the market. It is also worth noting that crypto whales, dolphins and sharks refer to individuals and entities that hold large sums of a cryptocurrency. 

## The Litecoin Halving Occurred on 2 August
Previously, we discussed how Litecoin whales, dolphins and sharks accumulated much LTC before the halving event. Now, the truth is that the halving event is past us since it occurred on 2 August at block 2,520,000, reducing the miner rewards from 12.5 to 6.25 LTC. There is much interest in Litecoin since it is the 12th largest cryptocurrency by market capitalization with a current market cap of $6,148,647,116. 

## Litecoin Price Movement Before and After Halving 
The LTC price started rising a few months before halving. As we moved closer to 2 August the price further firmed. For example, LTC gained by 4.34% in a 24-hour period that stretched from 29 to 30 July. During that period its value reached $95. Significantly, that price surge was supported by a high Litecoin trading volume that rose by 150% to above 1 billion within that short time. 

The recent price rise comes a few weeks after it fell below $100 at the start of July. Previously, it performed well during the first half of the year, attaining a value of $110 in April. It also reached a value of $112 on 3 July. However, in a sad turn of events the price of LTC fell to its lowest point within a month when it traded at $86 on the date of the halving event, 2 August. 

The surprising decrease in the LTC price is understandable considering that some major cryptocurrencies registered similar losses. For example, on that day BTC lost by 8%. At the time of writing, LTC is trading at $83.52 after gaining 0.3% within the last 24 hours. The next picture shows that LTC is still bullish.

Read also: [LTC Price Prediction & Forecast for 2023, 2025, 2030](https://www.gate.io/price-prediction/litecoin-ltc "LTC Price Prediction & Forecast for 2023, 2025, 2030")

![](https://gimg2.gateimg.com/image/article/16922576036841692257418_.pic.jpg)
LTC Price: CoinGecko

As observed, Litecoin is trading in a channel between $83.39 and $83.88. Anyone [can buy LTC on different crypto exchanges](https://www.gate.io/how-to-buy/litecoin-ltc "can buy LTC on different crypto exchanges") that include Gate.io. 

## Conclusion
Litecoin whales, dolphins and sharks had been accumulating much LTC before the halving event which occurred on 2 August. They anticipated the price of Litecoin to increase after halving. At the moment, the LTC price is fluctuating within a market channel. 

## FAQs About Litecoin Halving 
### What is Litecoin Halving?
Litecoin halving involves the automatic reduction of the rewards the miners get by half. It occurs when a certain number of blocks have been generated on the Litecoin blockchain and it results in a decrease in the issuance rate of the coin.

### What date is Litecoin halving? 
The latest Litecoin halving occurred on 2 August 2023. From there the clock is set to make a countdown for the next halving which will occur after about 4 years. 

### Will the Litecoin go up after halving?
In the past the price of Litecoin (LTC) went up before and after halving. Therefore, we anticipate the LTC price to rise after the latest halving event.  



<div class="blog-details-info">
<div>Author:** Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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Many LTC whales, dolphins and sharks accumulated much Litecoin before the halving event which occurred on 2 August as they anticipated its price to rise in the near future.

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As Halving Nears, Litecoin Whales Accumulate 