Litecoin Creator Charlie Lee: Litecoin’s Price Will Increase by More Than 700%

Charlie Lee, the creator of Litecoin, has recently tweeted that the August 2023 halving could cause the LTC rate to skyrocket to 0.025 BTC against Bitcoin, a growth of more than 700%.

He has cited the higher bandwidth and block size of the network, as well as the activation of the MimbleWimble update for better privacy and security, as likely contributing factors.

Lee has also noted that, in about 92 days, the halving will take place and the miner rewards will be cut by 50%, from 12.5 LTC to 6.25 LTC, thus reducing the supply of the cryptocurrency by approximately half.

This, according to experts, should push the price of the cryptocurrency up, with a similar surge of 450% happening before the first halving in 2015.