Litecoin halving is 13 days away — So where is the LTC price rally?

bitcoin (BTC) it is still almost a year away of your next block reward in half, but Litecoin (LTC) miners are already bracing for impact.

In less than two weeks, Litecoin block grant it will drop from 12.5 LTC to 6.25 LTC per block.

Whales stock up on LTC, but BTC value remains weak

Despite its fair share of controversyLitecoin remains the 12th largest cryptocurrency by market capitalization at around $6.8 billion.

Its miners currently earn 7,200 LTC in block rewards daily, which equates to a US dollar value of around $670,000.

As the halving approaches, major investors appear to be looking for an easy trade, popular trader Mikybull Crypto and others noting that “whales” have bought nearly $60 million worth of LTC in the past two days.

#Litecoin the whales have bought more than 590,000 #LTC in the last 48 hours, worth around $59 million!

Halving is a few days ahead. pic.twitter.com/L77RB5lLIq

— Mikybull Crypto (@MikybullCrypto) July 19, 2023

However, in terms of BTC, there seems to be little worth celebrating.

Litecoin is currently trading near all-time lows against the largest cryptocurrency, data from Cointelegraph Pro Markets and TradingView shows, a trend that has persisted over the years, regardless of previous halvings.

As of July 19, LTC/BTC is trading at 0.0031, with its all-time low of 0.0017 in June 2022. By contrast, 1 LTC was once worth as much as 0.052 BTC, the equivalent of $1,560 today. .

Litecoin's all-time high in USD occurred in May 2021, when it traded at over $400 per token versus today's more modest $93.

Little Comfort for Bitcoin Forks

In terms of weakness against Bitcoin, Litecoin is far from the worst performer.

Related: Bitcoin Price Is 'Stuck' At $30K: Here Are 3 Reasons Why

TO popular comparison Over the years there have been forks of Bitcoin versus BTC itself, and the results continue to paint a bleak picture of the reality of going against the market's choice network.

Bitcoin Cash (BCH) posted all-time lows in BTC last month, and despite a bounce since then, it remains at just 0.00817 BTC, 98% below its all-time highs of 0.432 BTC.

For Bitcoin SV (BSV), the picture is even worse, with a copycat rebound from June record lows already stalling.

At the time of writing, BSV/BTC was trading at 0.00124 BTC, also 98% below all-time highs.

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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making a decision.