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Gemini Cryptocurrency Exchange adds support to Litecoin trading pairs

The famous Gemini cryptocurrency exchange will add Litecoin (LTC) trading pairs to its trading platform. The information was released by the Vice President of Gemini Economics, Eric Winer, at the Litecoin First Litecoin Summit. The summit was held on September 14 and 15 in San Francisco.

Gemini Supports Litecoin

The encrypted exchange founded by the Winklevoss twins continues its expansion. On October 13th, Litecoin will be listed on the trading platform. On September 12, Gemini Support on Twitter replied to a user requesting that Litecoin be listed on the platform. The official Twitter account of the exchange said they had received regulatory approval to list it and that they would announce it very soon.

This is very important for Litecoin, which has had a bearish trend # 39; beginning of the year. However, since 12 September, Litecoin has grown by almost 20%. The Litecoin community was really happy with this announcement. On Reddit, for example, a new thread received 103 upvotes and another 143.

Furthermore, this information arrives a few days after the exchange announced the launch of a stablecoin known as Gemini Dollar (GUSD). GUSD is an ERC20 currency built using the Ethereum platform. Furthermore, 1: 1 will be pegged to the US dollar.

A third-party company will verify that the funds used to support the asset are real and properly stored. This is very important because Tether stablecoin (USDT) has been involved in some controversy due to this problem.

Gemini is one of the most regulated exchanges in the world. Both Winklevoss twins are in constant contact with regulators in the United States.

At the time of writing this article, Litecoin is trading around $ 57 dollars. Furthermore, it has a market capitalization of $ 3.34 billion.

Gemini is currently the 70th most important virtual currency exchange on the market. The platform offers six different trading pairs and in the last 24 hours has managed a trading volume of $ 6.35 million dollars.

Carlos is an international relations analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other major cryptocurrency sites; with over 2,000 published articles.

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