Block-reward halvings are almost always met with excitement from the cryptocurrency community since — at least, in the case of major cryptocurrencies like Litecoin (LTC) — they are often preceded by renewed enthusiasm and impressive gains.
As it stands, the Litecoin (LTC) halving event is estimated to take place 58 days from now on Aug 06, 2019. After this date, the block-mining reward will decrease from 25 LTC per block down to just 12.5 LTC — reducing the total newly-minted LTC per day down to just 7,200 coins.
It appears that some less reputable coins are now attempting to redirect some of the recent Litecoin hype into their own coins. The first such coin is Mooncoin, a cryptocurrency based on Litecoin that claims to be used for micropayments — though, considering its daily trade volume is scarcely above $1,000, we highly doubt that.
The relatively unknown and virtually-useless cryptocurrency, which has a tenuous market capitalization of $4.1 million, is currently expected to halve on July 08, 2019.
Block Day average 897
Next scheduled reward (halving)
3635 from 3877
Estimate date 08/07/2019 #MOON #Mooncoin #cryptocurrency #bitcoin #ltc #trx #bnb #dogecoin #blockchain #Fintech #btc pic.twitter.com/jTKDG5XTQY
— Mooncoin [MOON] (not giving away coins!) (@MooncoinItalia) March 26, 2019
With over 500 different proof of work (PoW) cryptocurrencies and a large proportion of these with regular halving schedules, there are usually more than just a few cryptocurrencies within an upcoming halving event.
However, since almost all of these cryptocurrencies can be considered close to death, it is extremely difficult to estimate exactly when the halving will take place — particularly since mining power can often fluctuate wildly for these coins. Because of this, it is unlikely that any of these will experience the same gains that Litecoin (LTC) has in the run-up to their halving event.
Besides this, here are the estimated halving dates for the three of the largest PoW coins with a halving schedule (besides LTC):
- Bitcoin (BTC), May 2020;
- Bitcoin Cash (BCH), April 2020;
- Zcash (ZEC), Late 2020.
Although it remains uncertain whether the impending halving of any of these cryptocurrencies will lead to a large pump, these are likely the ones that are best worth keeping an eye on.
Which cryptocurrency do you expect to pump the most in the lead up to its block-reward halving? What do you think about Litecoin and/or Mooncoin? Let us know your thoughts in the comments below!
Image courtesy of Twitter.