Litecoin (LTC) has seen some dark days during the massive market crash since it lost its long-held spot as the fifth-best currency in accordance with global coin ranking list. A couple of months ago Litecoin plummeted to the 6th spot while its previous ranking was overtaken by EOS as this currency managed to acquire a greater market capitalization in comparison with LTC. However, Litecoin didn’t stop there not letting this situation to discourage it towards rising up in the green, getting new listings and increasing its exposure.
Litecoin Gets Listed on Gemini Exchange
Litecoin has just got listed on another exchange, which will, of course, make quite an influence on the current level of exposure of this coin. Litecoin has had a rough patch during the market crash that lasted for 8 weeks when it lost its spot to EOS.
That means that getting another listing might make a fair share of the difference of LTC as it is trying to regain its old glory in the market.
This time, Litecoin was added to the listing of a well-known market, Gemini Exchange. Besides from adding LTC to its list of trading coins, Gemini exchange has also added ZCash, known as a privacy coin that is soon to have its very first hard fork, and Bitcoin Cash, one of the more successful forks of Bitcoin.
Although the above-mentioned coins were added two days ago, it is still not clear when LTC, BCH, and ZEC will go live on Gemini exchange.
The new listing might surely affect the exposure of LTC in the market, while possibly raising its trading volume as a consequence.
Litecoin Becomes Compatible with Blocknet
The team behind LTC has been working on yet another project that might affect Litecoin to go up and sky-rocket to the moon, even potentially getting back to its old spot as the fifth-best currency.
This time, there is a word going around for a couple of days already that Litecoin has just become compatible with Blocknet.
That would mean that LTC is now enabled for cross-chain operations, which indicates that Litecoin is now able to work as a cross-chain crypto that would further enable LTC to interact with other digital assets.
This is actually a pretty big deal for Litecoin, as for any other currency that could have ended in its place, because Blocknet represents a massive platform, representing its potential as the internet of blockchain ecosystems.
With the above-mentioned title, Blocknet is working on providing more power to digital assets that make it with getting compatible with Blocknet. The empowerment comes in form of the protocol known as an atomic swap.
Atomic swap enables assets to exchange information with other assets without the basic requirement of having the main server. This protocol also enables these assets to exchange data between different exchange markets and compatible blockchain platforms, which enabled a faster exchange of information and representing a bridge between different blockchain-based decentralized ecosystems.
The presumption that LTC became compatible with Blocknet was officially confirmed on the official Twitter page of Blocknet when the representatives of this platform confirmed that Litecoin has become compatible with their system.
Further, in the statement, Blocknet provided the information that all users of Blocknet Protocol will now be able to use LTC for cross-chain decentralized applications. Furthermore, LTC will also be enabled for getting directly exchanged for any other available currency during payments that can be paid with Litecoin. The process is also enabled in reverse.
This case could contribute in a great way to the further strategy of mass adoption of Litecoin, possibly pushing its value and having an increased demand for this digital asset.
How is Litecoin doing at the Current Moment?
While going up by 470% against the dollar in the course of a year, Litecoin went in the red zone on its weekly chart by going down for -11%, as well as on 14-day chart where it went down by -0.78%.
During the last seven days, there was a slight crisis in the market, so the majority of currencies were going down with the trend that was active at the time, and Litecoin wasn’t an exception either.
That is how LTC managed to go down for -11% in the period of only seven days.
However, when observed from the point of its performance in the last 30 days, LTC managed to end this period with 17% rise against the dollar.
After a minor crisis that has taken over the market for almost an entire week, the market is finally showing a bullish movement against the dollar, so we can see a great portion of currencies going up against the dollar while trading in the green.
LTC, with having a new listing on Gemini exchange and with the news that this asset has just become compatible with Blocknet, is following the latest trend as well while going up against the dollar.
That is how Litecoin managed to go up by 6.36% in the course of the last 24 hours. In addition to going up against the dollar, LTC is also rising up in oppose to BTC by 2.06%.
After the latest change in the market, LTC can be traded at the price of 146.55$ per one unit, while definitely showing improvements in the market in oppose to the previous period of the last 60 days.
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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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Is Tether (USDT) really a stable coin?
Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.
Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.
It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.
Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.
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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.
— Justin Sun (@justinsuntron) October 12, 2018
Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.
Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.
However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.
Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?
Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.
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