Litecoin (LTC) has experienced significant gains in the past 24 hours, surpassing the $100 mark. This surge in value coincides with the upcoming halving event, which will see miners' block rewards cut in half, resulting in a decrease in the number of tokens in circulation.

A crypto strategist with a large following on Twitter believes that Litecoin's pre-halving rally may have already peaked. The analyst, known as Kaleo, notes that Litecoin's recent price action is similar to what was seen in late 2021, when the cryptocurrency rallied by over 187% before entering a multi-month bear market.

Litecoin, a decentralized cryptocurrency founded by Charlie Lee, is recognized for its fast transaction speeds and affordability compared to Bitcoin. Despite a period of consolidation, LTC has been gradually increasing in value over the past year, hitting a yearly low in June 2022 before beginning an upward trend.

Litecoin (LTC) has experienced a significant drop in price, falling below the important $100 mark. This decline has raised concerns about the reasons behind it and what it means for the broader cryptocurrency market.

Litecoin's share of global payments increased to 34.9% in June, surpassing Bitcoin and becoming the most used cryptocurrency for payments. This surge in usage has been attributed to users seeking less expensive alternatives to Bitcoin's high transaction fees. The creator of Litecoin, Charlie Lee, expressed surprise and excitement at this development. Despite a recent sell-off by large holders of Litecoin, known as "whales," the upcoming halving event is expected to drive up prices as it has in the past.

Blockchain analytics firm IntoTheBlock has found that 13% of Litecoin's total supply has remained inactive for five years. This could be due to either unwavering confidence in the project or the loss of assets.

The price of Litecoin has fallen by over 3% to $100.50, in line with the wider cryptocurrency market. The drop comes after the coin rallied by more than 65% to reach a year-to-date high of $116 on July 2, due to excitement around its halving in August and its listing on EDX Markets.

July 5 (Cointime) - A crypto strategist with a large following predicts that both Litecoin (LTC) and Chainlink (LINK) will experience gains of over 100%. The strategist notes that Litecoin looks bullish after breaking through technical resistances and could potentially surge to $250, a 135% increase from its current price.

July 4 (Cointime) - Recent accumulation by large Litecoin holders, known as whales, has led to a surge in bullish volume and a new 12-month high for the cryptocurrency. However, some analysts are warning that this could be a liquidity trap, with whales potentially looking to cash out their profits.

July 4 (Cointime) - Litecoin (LTC) saw a gain of over 25% last week, making it the top-performing cryptocurrency in the top ten. The price of LTC reached a new high of $114, with a market cap of over $8 billion.