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Canadian Government Removes Cap Limit on Litecoin (LTC) Trading

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Canadian Government Removes Cap Limit on Litecoin (LTC) Trading

Canadian Government Removes Cap Limit on Litecoin (LTC) Trading

  • Litecoin’s price has surged recently, hitting a 14-month high and breaking the $100 mark.
  • The halving event is expected to take place around August 2, 2023.

The Canadian government has approved the unrestricted trading of Litecoin (LTC) and three other cryptocurrencies on exchanges, marking a major breakthrough for the Canadian crypto sector. Litecoin’s price has surged recently, hitting a 14-month high and breaking the $100 threshold.

The House of Commons Standing Committee on Industry and Technology has urged the government to develop a national blockchain policy to clarify the country’s regulatory stance and show support for the sector.

Bulls in Total Control

The halving event, expected to take place around August 2, 2023, bodes well for Litecoin’s future. It will be the third time the LTC block reward has been halved, from 12.5 LTC to 6.25 LTC.

The price of Litecoin (LTC) hit a 14-month high, surging beyond $100. According to IntoTheBlock’s numbers, Litecoin’s network has also reached a major milestone, as it is now handling over 500,000 transactions per day. With this milestone, LTC’s daily transaction volume is quickly approaching that of Bitcoin in May.

Crypto experts are keeping an eye on the successful breakthrough, noting that whether or not Litecoin is able to keep its upward momentum depends on whether or not it can retain support at the $102.65 level. With this area of support still in place, Litecoin might continue its ascent toward its major objective of $140.

The 30th of June marked a historic high for the coin, which was then worth $110. Furthermore, nearly a million Litecoin transactions were handled by the network in the preceding week. The approaching Litecoin halving event, which will take place in less than a month, is a strong testimony to the good feeling around the coin.

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