A surge in activity has recently been noticed among Litecoin (LTC) holders, indicated by the 48.5% increase in daily trading volume, reaching $560 million.
Last Sunday, the crypto jumped above $96, but was not able to break through $100. On Monday night, the rate fell to $95.2, while capitalization rose to $6.997 million.
Santiment analysts also noted an increase in new registrations on Litecoin with more than 650,000 new wallets having recently registered on the network.
This signifies the preparation for the upcoming halving on August 2, 2023, which will reduce the mining reward from 12.5 to 6.25 LTC.
Additionally, per CoinWarz data, the hashrate of the altcoin has been rising ahead of the halving, growing from 667.447 terahash per second (Th/s) on July 28 to 770 Th/s on July 30.
