Litecoin’s Halvening Drop Is No Proxy for Bitcoin Next Year

Litecoin, the world’s 11th-biggest cryptocurrency, saw its price slide on Wednesday after it went through a so-called halvening, with the rewards paid to computers supporting its network dropping in half. Don’t expect the same outcome next year when Bitcoin’s own halvening is due.

Litecoin is an offshoot of Bitcoin and their halvenings, designed to reduce the amount of new coin supply entering circulation, occur about every four years. In Litecoin’s process, rewards received by computers supporting its network, called miners, have dropped to 6.25 Litecoins from 12.5. Bitcoin’s halvening is expected next spring.

Litecoin has behaved differently than Bitcoin ...