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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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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