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Litecoin (LTC) Becomes Compatible with Blocknet while Getting Listed on Gemini Exchange

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Litecoin (LTC)
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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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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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