- Shan Belew shared on Twitter that LTC and DOGE miners only saw a 20% reduction in the daily block rewards after the LTC halving.
- Due to Dogecoin’s continuous block rewards system, DOGE remains the primary source of rewards for miners.
- Both LTC and DOGE saw their price decline over the past 24 hours.
After the Litecoin (LTC) halving, both Litecoin and Dogecoin (DOGE) miners experienced a reduction in their daily block rewards by around 20%, according to a Twitter post shared by Litecoin enthusiast Shan Belew. However, despite the reduction, Dogecoin still contributes a significant portion of the total block rewards for miners of both cryptocurrencies.
The post also pointed out that, due to Dogecoin’s continuous block rewards system, it remains the primary source of rewards for miners even after the halving. This has led to a sustained increase in the overall hashrate for both networks.
Unlike Litecoin and Bitcoin, where block rewards decrease every four years, Dogecoin’s ongoing block rewards model ensures a stable and secure mining network for both protocols. Belew also shared in his post that this shared mining network arrangement has proven beneficial for both Litecoin and Dogecoin ecosystems.
CoinMarketCap reported that LTC and DOGE experienced price drops in the last 24 hours of trading. At press time, LTC’s value was approximately $82.86, after slipping by 3.81% since yesterday.
Furthermore, LTC’s 24-hour trading volume also saw a significant decline, dropping more than 24% since the previous day. As a result, the altcoin’s intraday volume stood at $665,503,633. These struggles had a negative impact on LTC’s weekly performance, with a decrease of over 9% in the past seven days.
In contrast, DOGE’s price only fell by 0.46% during the past day, reaching a trading value of $0.07399. However, this slight dip pushed DOGE’s weekly performance further into the red zone to -3.21%.
As per market capitalization rankings, DOGE held the seventh position with a market cap of $10,389,888,326. This placed it between USD Coin (USDC) in sixth position and Cardano (ADA) in eight.
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