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Litecoin has made news lately, and this is due to the latest announcement to be listed on Gemini, a New York startup led by the Winklevoss twins.
The exchange made this important announcement through a tweet that will quote Litecoin (LTC) on its platform in a month. It is worth noting that the decision was taken during the recent Litecoin Summit held in San Francisco, by Gemini Trust's Twitter account.
LIVE from @LTCFoundation Litecoin Summit, "We are pleased to announce that Gemini will launch support for Litecoin starting October 13, 2018!" –@eric_winer # LTCSF18 #alla moon pic.twitter.com/TqTjJjk7q4
– Gemini (@GeminiTrust) September 14, 2018
The listing of Litecoin on Gemini Exchange is great news because the digital heritage itself has been criticized. Its founder, Charlie Lee, has recently faced the distorted information of FUD (Fear, Uncertainty and Doubt) surrounding Litecoin.
2 / FUD: Litecoin has lost its advantage and can not differentiate itself from hundreds of other altcoins.
TRUTH: Litecoin has one of the safest networks of all altcoins. Litecoin has over $ 150MM of ASIC hardware that protects it. Litecoin dominates the Scrypt extraction by far.
– Charlie Lee [LTC⚡] (@SatoshiLite) 20 September 2018
The influence of Litecoin Be listed on the Twin Exchange
Litecoin is in a position of exhaustion, and it is working hard to get a good place in the encrypted market that has many cryptocurrencies with great utility. However, the listing of Litecoin on Gemini is a considerable firm for the currency.
Gemini Exchange is today one of the best crypto-exchanges in the cryptocurrency market. The exchange itself has the support of SEC, and is a favorite among krypton enthusiasts.
More importantly, other cryptocurrencies that are already on the platform have boosted the trust of their users or investors in a well-known way. As a result, Litecoin's (LTC) investors will also gain confidence, despite the digital asset still trying to exceed the price of $ 60.
Cryptocurrencies such as Bitcoin, Ethereum and ZCash, were presented by Gemini before Litecoin. With this, Litecoin will join the Gemini market to strengthen its position in the encrypted market. Furthermore, this listing will increase Litecoin's liquidity for its users.
The listing of Litecoin on Gemini Exchange will expand its position, but there is the possibility that it can not move its price to its historical highs. Last week, Litecoin managed to overcome the last important down-trend line, which is a good sign for LTC but is heading towards the consolidation box.
In the four-hour chart, the top line of the consolidation window is also supported with different EMAs, all of which start operating at support levels. It is necessary to know that in the wake of the Gemini announcement of listing LTC, the price of LTC started well, therefore, finding support around $ 58.5.
More than 9 payment processors now support LTC
Charlie Lee announced that more than nine payment processors now support Litecoin. Some of them are Aliant Payment, BTCPay, Coinbase, CoinGate, CoinPayments, Globee, GoCoin LTCPay and TravelbyBit. And now, the crypt of securing a place in a well-known exchange like the Gemini by the time it is caught in a lot of FUDs could help alleviate things around it.
The CEO of Litecoin also replied to the FUD surrounding Litecoin that the number of daily transactions has increased. Charlie said in a tweet:
"Litecoin processes transactions worth $ 200 million per day. And the network has worked flawlessly for seven years! Litecoin works today as a global decentralized sound money that can not be censured can not be canceled or removed, it can not be counterfeited and can not be written down ".
At the time of printing, LTC is priced at $ 55.39 with a market capitalization of $ 3,237,304.950 after losing its value of 4.35% in the last 24 hours.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Photo by Guillaume de Germain on Unsplash
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