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Being listed on Gemini was a big boost for Litecoin. Gemini is one of the most regulated exchanges in the world and, listing Litecoin, sends a long-term potential signal. And being listed on Gemini, Litecoin becomes the third cryptocurrency to be listed in all the major markets in the world.
According to Charlie Lee, his mission was to get Litecoin to appear on all the major exchanges. He tweeted,
Ever since MtGox announced Litecoin support in 2013 and failed to deliver, I've been on a mission to get LTC added to exchanges to help increase liquidity.
With the launch of LTC on Gemini today, every single major Bitcoin exchange supports Litecoin. Mission accomplished! 🚀🌕 pic.twitter.com/6jvSyvsKdm
— Charlie Lee Ⓜ️🕸️ (@SatoshiLite) October 16, 2018
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Currently, only two other cryptocurrencies are listed in all major exchanges: Bitcoin and Ethereum. Bitcoin is the obvious choice to get started, and Ethereum, thanks to its potential to raise money through the smart contract, has become a choice for investors and requires a huge amount of liquidity.
One of the major determinants of any cryptocurrency is the number of trades that have listed it. The number of exchanges is directly related to the increase in the price of any cryptocurrency. This is why many exchanges require a premium to list tokens.
Litecoin is the seventh largest cryptocurrency in the world. The cryptocurrency has a market capitalization of $ 3 billion. The codebase is similar to Bitcoin and the ease of extraction has made Litecoin an easy choice for exchanges that try to list a new token.
In addition, over nine payment processors support Litecoin. Some of them are Aliant Payment, BTCPay, Coinbase, CoinGate, CoinPayments, Globee, GoCoin LTCPay and TravelbyBit.
Who becomes the 4th?
The battle is now between Bitcoin Cash (BCH) and XRP to be the fourth currency to be listed on all major cryptocurrency exchanges. Bitcoin Cash has a clear superiority thanks to the open source nature and the code base is similar to Bitcoin (BTC).
Important exchanges such as Coinbase and Gemini have officially declared that they do not want to list XRP because of its closed nature. But investors believe that XRP is more valuable than Bitcoin Cash (BCH), a fact evident from the capitalization of XRP.
XRP has a market capitalization of $ 18 billion and is the third largest cryptocurrency in the world. Bitcoin Cash, on the other hand, has a market capitalization of $ 7.7 billion and is in 4th place. Coinbase, the largest stock exchange in the United States, supports Bitcoin Cash but does not support XRP, but the custody service launched by Coinbase will support XRP.
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