Litecoin Success: LTC Mining Profitability Is On The Rise
Litecoin was recently in the spotlight when it’s been revealed that adoption is growing.
The Swiss crypto ATM company Bity added support for Litecoin.
This addition will allow people to buy LTC with cash besides BTC, Ethereum, and Monero.
It’s important to note that the ATM’s support the Swiss franc and the euro.
The mainstream adoption of digital assets has been one of the most important goals that the crypto industry has set for 2019.
And fortunately, there have been a lot of moves made in the crypto space that are boosting the adoption of digital assets.
Litecoin’s mining profitability is on the rise
Now, it’s been just revealed that Litecoin’s mining profitability begins to climb. LTC went through a having process back in August.
You may recall that this reduced the amount of LTC miners earn by 50%.
After that, an important number of miners appeared to leave the network with the hash rate dropping by more than 50%.
But now, things seem to be changing.
A mechanism known as the difficulty adjustment begins to kick in, according to the latest data coming from the Daily Hodl, which cited the info from BitInfoCharts.
“The adjustment essentially changes how hard it is to mine a block and has the power to raise or lower the profitability of mining to ensure that users who power the network remain incentivized,” according to the online magazine mentioned above.
You can also check out the graph.
Litecoin in the news
Recently, it was reported that Bitcoin and Litecoin adoption is on the rise these days.
The US-based payment merchant processor Aliant is getting ready to pay its employees a part of the compensation packages in both BTC and Litecoin as well.
In terms of pricing, Litecoin is trading in the red today at the moment of writing this article and LTC is placed on the 6th position on CMC.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.