Liteco coin founder Charlie Lee said he doesn't think LTC's situation will improve, especially in August. According to Lee, halving the upcoming LTC block award could lead to a slump in the LTC market and a drop in prices. Currently, miners can get 25 LTC for every block of mining. After halving, they will only get 12.5 LTC. For those with less mining equipment, it means lower returns, or even no profit, and forced them to exit the mining business.