According to Bloomberg News, LTC has risen more than 330% since the beginning of the year, outperforming BTC, ETH and XRP. According to data from Mosaic Research Ltd., LTC has a market capitalization of approximately $8.4 billion, making it the seventh largest digital asset. This rebound can be partly attributed to the halving of the upcoming LTC. It is believed that the reduction in supply will not only push up prices, but also prevent the erosion of value. The current mining award is 25 new LTCs, but after halving on August 6, the reward will be reduced to 12.5. At the end of last year, the LTC transaction price was less than $30 and is now worth $130.