Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Litecoin’s impressive mining statistics do not protect LTC.
ALTCOIN NEWS

Litecoin’s impressive mining statistics do not protect LTC.

By Crypto FlexsFebruary 15, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Litecoin’s impressive mining statistics do not protect LTC.
Share
Facebook Twitter LinkedIn Pinterest Email

reporter

Posted on: February 15, 2024


  • Litecoin has experienced an 8.4% increase in difficulty over the past week and over 20% YTD.
  • As of this writing, market sentiment towards LTC was negative.

The mining difficulty of Litecoin (LTC), one of the largest proof-of-work (PoW) networks, has soared to an all-time high (ATH), making it more difficult for miners to verify transactions and put new coins into circulation.

As of this writing, mining difficulty has reached 34.58 million, according to AMBCrypto’s analysis of Litecoin Space data. This represents an 8.4% increase in difficulty compared to last week and more than 20% year-to-date (YTD).

Litecoin mining difficulty reaches ATH

Source: Litecoin Space

Signs of a Secure Network

The spike in mining difficulty is due to a rapid rise in the network hash rate. It recently peaked at 1.03 PetaHashes per second (PH/s).

Hashrate has been steadily rising since its mid-December decline and is 21% higher YTD at press time.

As is well established, mining difficulty is periodically adjusted based on the overall network hash rate.

This is done to ensure that the time it takes to generate a new block remains consistent (e.g. 2.5 minutes on the Litecoin blockchain).

On a broader scale, increases in hash rate and difficulty bode well for network security. This is because we believe it will be more difficult for malicious players to manipulate transactions.

Additionally, the increasing hash rate reflects network growth, which is a bullish signal for the native cryptocurrency LTC in the long term. At least that’s what many optimistic LTC holders believed.

LTC investors are not impressed by mining indices.

However, recent price action has not inspired confidence. According to CoinMarketCap, “digital silver” has fallen 2.72% in the past month and is trading 38% below its 2023 high set shortly after the halving.

The price slump has reduced the network’s overall profitability. According to AMBCrypto’s survey of Santiment data, only about 46% of total supply was profitable, down from 78% in July.

Litecoin supply due to declining profits

Source: Santiment

Moreover, at the time of writing, market sentiment towards LTC is negative, affecting the coin’s upside potential in the near term.


Is your portfolio green? Check out our LTC Profit Calculator


A sign of good things to come?

However, there was a silver lining to LTC’s decline in market capitalization. The NVT ratio, which has a negative correlation with trading volume, has been steadily decreasing over the past few months.

This means network utilization is outpacing market capitalization growth, which has historically been interpreted as a long-term bullish signal.

Litecoin’s NVT Ratio

Source: Santiment

Next: DOGE falls behind LINK once again. Here’s the current progress:

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025
Add A Comment

Comments are closed.

Recent Posts

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Solana-packee blockchain manually spreads

September 3, 2025

Bybit Card Launches In Europe With Unmatched 20% Cashback

September 3, 2025

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025
Most Popular

Federal Reserve Chairman Jerome Powell told lawmakers there was no need to worry about CBDCs.

March 7, 2024

BlackRock iShares Bitcoin Trust (IBIT) ends 71-day streak with zero inflows

April 25, 2024

‘Top 10… brings no satisfaction’ says Polygon’s Sandeep Nailwal – Cointelegraph Magazine

November 28, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.