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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Blockchain-Focused ETF Arrives on London Stock Exchange
The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.
Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.
However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.
Bitcoin as a divorce tool?
In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…
Three Biggest Things To Know Come Cryptocurrency Tax Season
In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.
These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
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