CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 87.41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Scan to Download iOS&Android APP

How many litecoins are there? LTC circulation analysis

By Iliana Mavrou

Edited by Jekaterina Drozdovica

11:00, 3 December 2022

Share this article
In this article:
GOOGL
GOOGL
99.76 USD
2.09 +2.160%
BTC/USD
Bitcoin / USD
23443.35 USD
400.5 +1.740%

Subscribe to Weekly Highlights

The major market events for the week ahead right in your inbox. Subscribe
Litecoin LTC banner. LTC coin cryptocurrency concept banner background.
How will litecoin halving affect LTC circulation supply? Photo: WindAwake / Shutterstock

Litecoin (LTC), the second oldest cryptocurrency to date, enjoyed a bullish momentum gaining around 40% in November ahead of its third halving due to take place in 2023. The event will reduce the rate of new LTC being minted, and will have a direct effect on LTC tokenomics. 

LTC/USD live price

So how many litecoins are there in the world? Here we take a look at LTC circulating supply and what the halving event will mean for the price. 

What is Litecoin?

Litecoin was created by former Google (GOOGL) engineer Charlie Lee in 2011 as a token that could act as "the silver to bitcoin's gold". The second oldest cryptocurrency after bitcoin (BTC) is considered to be one of the very first altcoins, created as a cryptocurrency fork from bitcoin’s open-source code. 

According to its whitepaper, litecoin is a peer-to-peer digital currency that allows for fast and near-zero cost transactions to anyone in the world. Similarly to bitcoin, litecoin uses a Proof-of-Work (PoW) consensus mechanism, however, claims to be able to handle a larger transaction volume than its counterpart.

The PoW consensus mechanism solves a number of mathematical equations in order to create new litecoins. Once those are solved, Litecoin tokens are rewarded to users. 

Litecoin’s algorithm, called Scrypt, requires specially designed software and hardware for the mining of litecoins. The process entails the validation of transactions in the blockchain as well as closing and opening new blocks. 

Scrypt was designed to withstand large-scale, custom-made hardware attacks on the cryptocurrency, making it more secure. The algorithm also supports litecoin’s fast transaction speed, allowing for new blocks to be created in 2.5 minutes versus bitcoin’s 10. 

Litecoin is considered to be highly liquid, meaning it can be easily used by a number of merchants and is even accepted by non-profit organisations such as American Red Cross.

What is your sentiment on LTC/USD?

95.40
Bullish
or
Bearish
Vote to see Traders sentiment!

Bullish momentum in November 2022

LTC came out on top in November 2022, boosted by optimism over its upcoming third halving event in which 50% of newly minted litecoins will be cut.

Since dropping to $51.62 on 22 October 2022, LTC has managed to regain over 45% of its value, surging to $76.80 on 2 December 20222. Considering the overall negative trend in crypto markets, this was seen as a commendable move by many in crypto circles

However, when looking at the overall LTC to USD chart, the cryptocurrency has fallen by around 47% since the beginning of 2022, from $146 at the start of January to around $76.80 on 2 December. It’s been affected by the crypto winter, inflationary pressures and the crash of the TerraUSD (UST) stablecoin

On 10 May 2021, the cryptocurrency reached its all-time high of $387.87, surging by more than 80% from a low of $70 in November 2021, ahead of many other coins, which reached their all-time highs in November 2021.

Litecoin to USD chart, 2017 - 2022

After topping in May 2021, the token fell to $119 by mid-July before surging by 121.2% to $263.31 on 16 November 2021. Since then, however, LTC embarked on a bear trend, losing over 40% of its gains. It was down to $148 by the end of 2021. 

How many litecoins are there?

So, how many litecoins are available? According to data provided by CoinMarketCap as of 2 December, the number of available LTC tokens in total amounted to 84 million,  making it a deflationary asset, like bitcoin. 

BTC/USD

23,443.35 Price
+1.740% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 66.00

LUNC/USD

0.00 Price
+0.710% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee -0.0500%
Overnight fee time 22:00 (UTC)
Spread 0.00000725

ETH/USD

1,611.66 Price
+2.590% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 5.50

XRP/USD

0.41 Price
+1.210% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.00370

Approximately every four years or 840,000 mined blocks, the total number of litecoins released into circulation is cut by half in a process otherwise known as halving – something bitcoin also undergoes. 

According to Morgan Stanley’s Investing in Cryptocurrency report, the point of halving is to create a “supply shock” which will aim to raise the value of the asset. Each time litecoin experiences its halving event, its amount of block rewards is cut in half. 

Since its launch in October 2011, litecoin has undergone two halving events. The first one took place in August 2015, when the number of LTC per block was cut to 25 from the initial 50. The second halving happened in August 2019, when LTC rewards were reduced to 12.5 LTC a block. 

Each LTC halving event occurred after a volatile journey in the LTC/USD price chart. A similar trend can be seen ahead of the cryptocurrency’s third halving event, due to take place in July 2023. 

Following the third halving, the 12.5 LTC tokens issued will be cut to 6.25 litecoins. But, how many litecoins are in circulation?

As of the time of writing (2 December), data on CoinMarketCap showed that the total number of LTC tokens in circulation exceeds 71 million. 

Latest news on litecoin token supply

The halving event could be a key factor in defining how many litecoins there are, and dominating LTC news and analysis in 2023. According to a tweet published by litecoin on 26 November 2022, the next halving event is due to take place in 250 days from then.  

An anonymous crypto enthusiast noted on Twitter that LTC “is forming similar pre-halving bottom structure like we saw in 2015 & 2019 bottom”.

In more recent news, on 1 December 2022, Litecoin proclaimed itself as “the fastest-growing crypto payment method in the world”. On 30 November, the platform noted that US based transfer giant Money Gram had made crypto purchases a possibility for its customers on its mobile application, allowing users to trade three cryptocurrencies, including LTC. 

On 29 November, Litecoin announced that LTC had had “zero downtime in over 11 years of existence. The longest uninterrupted uptime in crypto.”  On 27 November, the platform said that LTC difficulty had reached yet another all-time high of 20.00 million at block 2,376,538. 

On 21 November, Litecoin noted that in the past month it has been integrated into three new businesses, including Moneygram, Google Cloud and Blockcbank.

At the end of October, LTC was listed on the Block Bank app, allowing new users to trade the cryptocurrency. 

In other news, litecoin announced in May 2022 that it had finalised its privacy-focused Mimblewimble Extension Blocks (MWEB) update, which aims to make the platform better at delivering payments in a confidential manner. However, the upgrade continued to be developed beyond May too.

Final thoughts

Note that while it’s useful to keep track of how many litecoins there are, it’s important to do other research too, looking at the technical analysis, a wide range of commentary and the latest news on the coin. Always conduct your own due diligence before trading. Remember, cryptocurrency markets are volatile and never trade more than you can afford to lose.

FAQs

How many litecoins are left?

The maximum supply of LTC tokens cannot exceed 84 million. According to data on CoinMarketCap , as of 2 December 2022, the total number of LTC tokens in circulation exceeded 71 million. This means that there are around 13 million LTC tokens left.

How many litecoins are lost?

Approximately every four years or 840,000 mined LTC blocks, the total number of litecoins released into circulation is cut by half, in a process known as halving. There have been two halving events. The first one took place in 2015, when the number of LTC per block was cut to 25 from the initial 50. The second halving happened in August 2019, when LTC rewards were reduced to 12.5 LTC per block.

How many litecoins are mined per day?

The number of litecoin tokens coming into circulation per day may change depending on investor sentiment.

Related reading

Rate this article

Share this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Latest Cryptocurrency news

Still looking for a broker you can trust?

Join the 480.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading