• Litecoin (LTC) is preparing for a halving event on Aug 2.
• Whales are taking advantage of the opportunity by increasing their holdings.
• Retail investors have followed suit, causing transaction volumes to increase.

Litecoin (LTC) Halving Event

The upcoming Litecoin (LTC) halving event on August 2 has caused whales and retail investors alike to increase their holdings. According to Santiment, addresses holding between 100,000 and 1 million LTC now hold over 35% of the supply, which is an increase from earlier this year. The halving will reduce the reward for mining from 12.5 LTC to just 6.25 LTC per block mined.

Whale Activity

Santiment reported that whale activity in the five months leading up to the halving had increased by 6%. This trend continued as prices dropped and anticipation for the halving grew stronger, prompting whales to grab more of the supply before it became scarce.

Retail Investors Join In

As interest in the halving began to spread through forums and posts, transaction volumes rose accordingly as retail investors joined in with their own purchases of Litecoin coins. With reduced supply coming after Aug 2 and increased demand driving prices higher, it’s likely that both whales and retail investors stand to benefit from this situation.

History of Halvings

Halvings are a regular occurrence with cryptocurrencies like Bitcoin and Litecoin; they take place every four years and reduce the amount of each coin created during mining while simultaneously increasing its value compared to other coins in circulation at any given time. This makes mining as much as possible prior to a halving more profitable than it would be otherwise, further incentivizing miners who may have otherwise abandoned their operations due to low rewards or high energy costs associated with running rigs constantly at full power over long periods of time.

Conclusion

The upcoming halving event has caused an influx of buying activity among both whales and retail investors alike who are looking forward to taking advantage of what could be a major price appreciation once Aug 2 rolls around. With transaction volumes increasing rapidly due both groups’ participation in purchasing Litecoins before their value decreases post-halveng, it’s likely that those investing today could see major returns within months or even weeks depending on how quickly prices escalate following Aug 2nd..