Litecoin, the fifth-largest cryptocurrency by market cap was trading at around $100 , after the halving took place.
Currently it's price is hovering around $70-$75., It's Price has been declining steadily after the halving took place.
Not only it's price , Litecoin's hash rate has also dropped by 28% since the halving.
Litecoin's mining difficulty was at 15.93 million on Aug 4th, one day before the halving, to 11.40 million on Aug 22nd.
The Hash Rate has also dropped from 456 tera hash per second to 326 tera hash per second over a course of just 18 days.
The decline of mining interest is perhaps not surprising as the halving event on Aug. 5 reduced litecoin’s block rewards from 25 LTC to 12.5 LTC , thus decreasing the profitability of Litecoin Mining.
Assuming the electricity needed to power the miners costs $0.04 per kWh, these models are estimated to bring home a daily profit between $0.20 and $0.50 . This will not even enough for the maintenance of the crypto rigs.
Litecoin's price must soar up to bring in more miners thus maintaining the security of the network.
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