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Can Litecoin Futures in the UK Boost LTC in the Market?

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Litecoin

Although Litecoin has acquired a solid pace of growth for the last couple of days as the market turned bullish on the previous trend, LTC seems to be down again with the new trend that hit the market several hours ago. Litecoin has had another “defeat” by hitting its lowest price in 2018, while still being traded under 100$.

Altogether with trading below the price of 100$ per one LTC, Litecoin has also lost the fifth spot to EOS earlier this year, so it seems that Litecoin has surely seen better days during its lifetime.

However, Crypto Facilities in the UK has announced adding Litecoin futures to their services, which certainly poses a question whether Litecoin futures in the UK could boost LTC in the market and provide it a break from a rather turbulent period.

Crypto Facilities Add Litecoin Futures

Litecoin has made it with 100% of gains during the period of the last year, EOS managed to push it out from a long-held spot of the fifth-best currency, while also having LTC dropping below 100$, that way reaching the lowest point in its price in the current year.

However, Litecoin seems to have gotten another chance to redeem with their holders now that the Crypto Facilities in the UK has announced that they will be adding Litecoin futures to their services.

Crypto facilities have previously added Ethereum to their platform, while their customers can also operate with Ripple’s XRP and Bitcoin.

Crypto facilities, which is a UK-based platform, now offering services for dollar denomination, which is the exact service Litecoin will be included in beside from having available Ethereum based contracts for their users.

Litecoin futures should join this service on June 22nd in accordance with the official announcement made by the team Crypto Facilities.

Charlie Lee stated on this matter that Litecoin will now have the opportunity to become more open for institutional investors, which means that Crypto Facilities will consequently make Litecoin more available for people, while also making the process of “getting in and out” of Litecoin, a lot easier.

He also stated that this service might consequently add to Litecoin’s liquidity in the market while bringing improvements to LTC.

Crypto Facilities on Adding Litecoin

As a reply to Charlie Lee and the whole case of having LTC added to their dollar denomination services, the CEO of Crypto Facilities stated that they are happy to have added Litecoin to their service, as LTC makes up for one of the top currencies in the market.

The CEO also stated that they have added Litecoin due to the increased demand among their users, which showed that LTC would make up for a great choice for Litecoin-Dollar futures contracts.

He also added that he believes that this service will contribute to the liquidity, efficiency, as well as price transparency in the market of digital assets.

That being said, there is a strong probability that Litecoin might get the needed boost to at least get back to the price of 100$ in the following months.

However, this case might not go as smoothly as expected as the market trends seem to be pretty unpredictable and not at all benevolent to the majority of currencies during the past couple of months.

The SEC and Litecoin

Many cryptos are waiting for the SEC to decide on their fates, by deciding on which assets can be marked as a security and which as a currency.

SEC has decided on the matter of Bitcoin and Ethereum that neither of these assets represents a security, which means that BTC and ETH are marked as currencies by SEC.

While Ripple’s faith is still being decided on, considering all factors surrounding XRP, it seems that based on the model of the SEC’s decision on Bitcoin, Litecoin might be safe in the terms of being looked upon as on currency.

Given the fact that Litecoin was designed by Bitcoin’s model, the structure of LTC ecosystem resembles Bitcoin blockchain in a great manner, of course, with some slight improvements that made LTC faster and probably more efficient than Bitcoin.

That further takes us to a conclusion that Litecoin might as well be marked as a currency.

Litecoin (LTC) Performance

Litecoin picked up 100% of gains during the course of the last 365 days while collecting 2.1% against the dollar in the last 7 days, however, we can now see LTC while it is going down in the red while still being traded below 100$.

With the latest market trend, Litecoin has lost -1.77% against the dollar, while being traded at the price of 96.77$.

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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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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