Litecoin (LTC) network hashrate hits all-time high

04 Jun, 2019
by David Robb
Mining
Litecoin (LTC) network hashrate hits all-time high

The hash rate on the Litecoin (LTC) network has recently reached another all-time high. Blockchain data shows that the hashrate was just under 374T yesterday.

This is the third time in as many months that the Litecoin hashrate has found a new ATH level. The last time was on May 31, when it reached 373.2T, and before that a new peak of 371.9T was recorded at the start of April.

Image from Gyazo

Mining on the Litecoin network is becoming more of a relevant issue recently, with the next scheduled halving of mining rewards coming up sometime in August. Many have speculated on the impact that this will have on the price of Litecoin, and may be looking to it as an indicator of how Bitcoin's next mining reward halving in 2020 will affect BTC's price developments and the broader crypto market.

A blogpost from Litecoin.com claims that the recent positive price action for LTC could be linked to new mining hardware that should be more widely available sometime soon. Mining giant Bitmain has apparently finished development of the Antminer L5, and is already using it to mine in its own facilities. It was temporarily available to rent, and apparently has much improved technical specs.

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Read more about: Litecoin (LTC) Mining

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