1. The recent #halving event in the #Litecoin (LTC) ecosystem, which reduced #block subsidies for miners, has led to a noticeable decline in the network's hash rate, impacting miners' profitability.
2. Despite initial hype, LTC has experienced bearish #price action in the days following the halving, with a significant 11% drop in value to $82.51, contributing to less efficient miners exiting the market.
3. The decrease in #hashrate and network activity may be attributed to reduced transaction volume and weaker demand for LTC, with mining machines operating at less than full capacity, indicating a potential continuation of the bearish trend in the derivatives market.
