Fast forward three months, Litecoin’s hashrate has crashed by more than 60%.
Lee had previously claimed that while the halving was expected to fuel a temporary price drop, “the mining difficulty will readjust and everything will be back to normal.” Here, it is important to note that in totality, Litecoin still maintains a solid trajectory in terms of hashrate, highlighting a healthy ecosystem. However, the miners have not been able to recover from the halving.
Additionally, the above graph suggests that profitability, while sporting a downward trend since the Litecoin halving, has been on the rise since the end of October. Addressing the future, Lee had also said that privacy and fungibility will be the next battleground for the Litecoin ecosystem.