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Litecoin: the hashrate collapsed 7 months after halving

Litecoin has touched a new one minimum peak afterhalving August 2019. The highest peak was reached in mid-July in 2019, with over 500 Thash / s but since then, probably because of halving it started to go down. 

Already in late September it fell below altitude 300 to then be able to plummet to 130 in December. Since then, however, it has still fallen, with the minimum peak of 127 touched on March 16, 2020.

A similar figure can be found only in February 2018, when there was a primary decline after the surge that had occurred with the speculative bubble towards the end of 2017. 

It should be noted that the hashrate of Bitcoin it has evolved in a totally different way even if it is possible to find something in common that is, a surge of pre-halving. 

In fact, starting from December 2018, we have seen each other a surge in Litecoin's hashrate which reached 220% that until a few days before halving to then collapse over 70% in the months that followed during post-halving.

Bitcoin hashrate instead from December 2018 until October 2019 it saw a 200% increase to then be able to stop again and started to grow again by 30% until we see another peak in early March 2020.

In total, as of December of 2018 to peak 280% to then decrease accordingly by 24% in the following days due to the collapse of the price of Bitcoins.

Bitcoin halving is expected in May 2020, for this reason his hashrate in the coming weeks could increase again, provided that the price allows it.

What happened to Litecoin at the moment it is a collapse of profit in the field of mining. In fact, after a peak of 98 dollars per day for GHash / sa in July 2017, it reached a profitability that dropped to about 2,5 dollars towards the end of 2018, then going back to $ 5 a few weeks before the new halving in 2019. 

From now on, it plummeted to $ 1,2, which probably caused the hashrate to collapse. The path is followed by the profitability of Bitcoin mining and in some ways it was similar to the peak that had been seen in December 2018 and then collapsed below 0,08 cents. dollars over the past few days.

It should be noted, however, that the profit from Litecoin mining it is calculated in dollars day after day for THash / s, which is ten thousand times higher than BTC because 1,2 dollars a day for GHash / s corresponds to 1200 dollars a day and that corresponds to 1000 GHash / s. 

Nevertheless, however, Bitcoin hashrate is about 1000 times higher than Litecoin, this shows miners' interest in Bitcoin higher than in Litecoin. Finally, it should be noted that the collapse of Litecoin's hashrate has minimally affected its performance blockchain since the block-time remained unchanged. 

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Silvia Faenza

Graduated in Political Science and International Relations at the University of Salento, in the 2014. From 2015 he is in charge of content management for online companies and publishing agencies, mainly as a ghostwriter, copywriter and web editor.

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