Interest in Litecoin mining is growing significantly

08.06.2023, 17:10
Over the past 30 days, the volume of capacities occupied by mining litecoins has increased, as well as the amount of commissions
Interest in Litecoin mining is growing significantly

According to the Litecoin ecosystem (LTC), the hashrate of this cryptocurrency has increased, reaching 535.6 Th/s, and the total amount of transaction fees has also increased. At the end of June, the LTC hashrate was at the level of only 355.37 Th/s.

LTC mining is in the green zone in terms of profitability, and currently, according to CryptoCompare, at an LTC price of $ 58.13, it gives an average profit of $ 29.16 per month. The bitcoin mining difficulty indicator reached a new historical maximum by the beginning of this week, reaching a value of almost 18 million hashes (17.99).

Such dynamics is noted against the background of the fact that over the past month there has been a reduction in transactional activity in the LTC blockchain. In addition, Litecoin was discussed on social media last week by 64.3% less than at the beginning of November, exactly like the reaction of social media users to posts about LTC (likes and reposts) decreased by 56.7%. At the same time, fluctuations in interest in the cryptocurrency are observed for a longer period of time, that is, it cannot be said that we are talking about a steady decline in interest in it.

It is curious that against this background, the capitalization of Litecoin tends to grow, and the share of LTC in the cryptocurrency market has reached 0.47% noticeable for altcoins. The absolute maximum for cryptocurrency ($410.26) was fixed on May 10 last year.
Compared to it, the price of LTC decreased by 85.8%.| |

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