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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Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…
My Crypto Heroes Announces Issuance of MCH Governance Token
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:
During December 2020 the first governance…