Litecoin just achieved a unique milestone, according to the recent post on Litecoin’s medium channel 60 million Litecoins are now mined marking 71.5% of the total supply. This milestone also marks the point at which there are only 3M more Litecoin to go until the halving, which will see the Block reward fall from 25 Litecoin to 12.5 Litecoin.
Only 3M more Litecoin To Go Until Halving
According to the recent post put forward by Litecoin on Medium, as of 12th of January 2019, block #1560000 minted into existence the 60 millionth Litecoin marking ~71.5% of the total 84M according to data provided by LitecoinBlockHalf. The Litecoin algorithm has set the limit of LTC to be produced at 84 million. This leaves a total of 24 million LTC left.
This milestone also marks the point at which there are only 3M more Litecoin to go until the halving, which will see the Block reward fall from 25 Litecoin to 12.5 Litecoin.
The halving is estimated to take somewhere close to August 2019 when 75% of the total Litecoin supply has been mined.At the current reward rate it takes ~70 days to mint 1M new Litecoin into circulation and after the halving, this time will double to ~140. It also means since Litecoin is deflationary it wont be possible to see the 70M milestone until approximately 1330 more days have passed, or sometime in mid 2022.
The post also mentions that The final Litecoin is estimated to be mined sometime in 2142 according to the mathematics of the system, at this point 0.00000042 Litecoin will be the block reward.
Litecoin looking good so far in 2019
Litecoin had started the new year on a promising note as the coin reported growth in its network with over 100 active nodes for the first time.