Litecoin is listed on SFOX, Move indicates its acceptance by institutional investors
SFOX announced on September 27 that they were listing Litecoin on their platform. This would see digital asset trading on multiple platforms using SFOX's proprietary algorithms. According to SFOX, its 7 proprietary algorithms should optimize everything, from price to speed, up to the size of the order. It is expected that the listing of Litecoin on SFOX will provide access to institutional investors, while increasing liquidity in the market.
Litecoin has received a lot of attention in recent months and it was a matter of time before institutional money became interested in it. However, SFOX is not the first platform to add LTC and expose it to institutional investors. Last year Coinbase listed LTC on GDAX (an advanced Coinbase trading platform), for advanced traders and institutional investors.
He also added it to his website for regular merchants.
Litecoin is expected at half its mining premium in 2019, as well as every four years. This reduces the supply of money on the market, creating a demand in the market. This envisaged pushing up the prices of LTCs. This then seems like a fantastic moment for institutional players to buy LTC in anticipation of a price hike.
Litecoin price analysis
Litecoin has performed exceptionally well in the last 48 hours. After jumping to $ 63 yesterday, today, September 28th, the price of the currency was slightly adjusted. At press time, it is trading at $ 61.31. If the currency continues to correct, it expects it will settle at $ 60. A fall below $ 60 could trigger a bearish market that could postpone it to $ 58.
Given the slow price development in the cryptocurrency space, Litecoin may find it difficult to rise to its historical highs of $ 100 or $ 300, but with the half-life of Litecoin coming next year, the currency will surely come close to the highs or even hit them.