Litecoin [LTC] showed more love for DOBI than Coinbase Pro; cryptocurrency on a recovery route?


The market saw a bearish streak when it was opened on Monday 17 September, with most of the coins that saw red on the cryptocurrency cards. Litecoin [LTC] who saw something of a rebirth after a minimum of 3 months on September 12th when it fell to $ 48.44, was trading at $ 56.37. The cryptocurrency has enjoyed a bullish 7-day run of 2.39% with a total market capitalization of $ 3.28 billion.

  Graphics of Litecoin | Source: CoinMarketCap

Litecoin Graphics | Source: CoinMarketCap

The obvious thing about Litecoin's trading volume was that most came from a relatively unknown Chinese cryptocurrency trade called the DOBI trade.

The exchange contained a total Litecoin trading volume of 26.12% including a 24-hour market volume of $ 101.741 million. According to CoinMarketCap, the DOBI trade mainly concerned EOS and Ethereum [ETH] with both cryptocurrencies traded on the platform with a fractional share of 40.70% and 35.30% respectively.

Popular exchanges such as Bitforex and Coinbase Pro, which held the lion's share of most other volume of cryptocurrency trading, were left behind in the dust with BitForex accounting for only 2.33% and Coinbase Pro held 1.62% of Litecoin's trade.

The DOBI was also in the news when the exchange was in partnership with Chuangyu, a Chinese technology company. The company reports stated that the main objective of the partnership was to create a new financial technological ecosystem to increase the blockchain industry

Litecoin was also in the news recently when Charlie Lee, the founder of the cryptocurrency, had explicitly stated: "It would have sucked if I had not sold". Lee had said that the only reason he had created Litecoin was that there was something in the market that was governed by loyal policies and allowed it to become a global currency.

His statements were also backed by Roger Ver, CEO of Bitcoin .com and one of the advocates of Bitcoin Cash [BCH] who had said:

"People should start negotiating in Litecoin rather than the failed Bitcoin. "

Litecoin had another push in its mission to mass adoption when Wirex, a famous cryptocurrency portfolio expanded in Canada, added the currency to its list of marketable cryptocurrencies. The cryptocurrency roster also included Bitcoin [BTC] Ethereum [ETH] and XRP.

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