Cryptocurrencies
Hype Over Litecoin’s Halving Leaves Owners Holding the Bag
- Price declines as reduction of awards to miners approaches
- Investors looking for more fundamental development in the coin
This article is for subscribers only.
What was supposed to be a sure-fire way to drive up the cryptocurrency Litecoin’s price is at risk of quickly turning into a liability.
Hype around Litecoin’s so-called halving, which has been trumpeted as a catalyst for reducing future supply, helped more than quadruple its price this year. But as the event itself has neared, investors have turned sour on the fourth-largest digital token, pushing it down 18% last month.