The hashrate of the Litecoin network (LTC) continues to fall. It is noteworthy that in August the amount of computing power used to mine coins fell by about 30%.
The trend continues in September and according to Bitinfocharts, the hashrate of the network of this cryptocurrency decreased from 523 to 295 TH/s (by more than 43%).
Recall that in early August a halving took place in the Litecon network (a reduction in the reward to miners for mining a block on the network). Rewarding miners was halved from 25 to 12.5 LTC. Before halving, the price of the asset grew, as many expected a shortage of coins due to a decrease in the profitability of their mining.
I promised Charlie I wouldn’t talk about Litecoin but hey take a look at what happened to Litecoin hashrate post fork.
In my opinion they too will die unless critical (note: impossible to reach network consensus) changes are made ASAP to future-proof.
— Edin Jusupovic (@oasace) September 11, 2019
However, after this event, the demand for digital silver began to fall, which, accordingly, led to a decrease in prices. At the time of writing, the price of LTC is $69.54, and the market capitalization of the asset is $4.397 billion.