Thus, in much the same way that Bitcoin Ordinals were traded in the beginning. For now, we know that DRC20s, also known as Doginals, are mainly traded through over-the-counter (OTC) exchanges. However, it is still difficult to understand the value of these new assets. Finally, on 27 May, Elon Musk’s favorite crypto reached its all-time high: 2,079,070 transactions.īut why this remarkable increase in transactions? We see that many experts attribute it to the introduction of DRC20 tokens, tokens similar to the BRC20 minted on Bitcoin’s blockchain. Then, on 23 May, it reached 1.42 million. It all began on 22 May, when the crypto Dogecoin started having about over a million transactions per day.
Ethereum, on the other hand, has processed about one million. In fact, we see that Bitcoin averaged about 400,000-532,000 transactions per day in the last week.
In doing so, Dogecoin surpassed even blockchain giants Bitcoin and Ethereum. Specifically, on 27 May, the number of DOGE transactions reached a record level of over 2 million with a hashrate of over 38%. Recently, crypto Dogecoin ( DOGE) has seen a notable increase in its transaction activity, according to reports. Dogecoin marks record high of more than 2 million transactions Thus, the demand for LTC grows accompanied by a low circulating supply, and this most likely indicates that demand may exceed supply, which is a positive factor for the price of Litecoin. Specifically, we see that with each halving, fewer coins are put into the market. This factor positively affects the LTC price action in the long run because demand continues to grow. This means ensuring a low supply of Litecoin coins in circulation. This is because the purpose of the halving mechanism is to ensure that Litecoin is inflation-proof. $LTC #crypto - Litecoin Foundation ⚡️ May 27, 2023īased on what we learn, we see that thanks to the halving, the Litecoin crypto will most likely see much higher demand in the coming weeks. With the #Litecoin halving approaching, we created this video to explain more about this mathematical event, when it happens, how the reward system works and why is it so important.
Hence, the next one is scheduled for August 2023. Litecoin halving coming in August: will demand exceed supply?īased on a recent Twitter post by the Litecoin Foundation, we see that the network expects a halving once every four years/once every 840,000 blocks.
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