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Litecoin LTC Trading Volume Spikes

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LTC trading volume
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According to recent statistics, the seventh largest cryptocurrency by market cap, Litecoin, has recently seen a large surge in trading volume. In the recent period, LTC trading volume has mostly been consistent in the $200 million range. However, this has now changed, and information from websites such as CoinMarketCap is recording an entire $100 million more in trading volume.

At the time of writing, LTC trading volume is at $323.5 million on CoinMarketCap. One interesting thing is that Litecoin has not experienced any large price movement. Its price is currently at $51.23, with a drop of 1.20%. However, LTC trading has suddenly become much more popular.

The crypto community is currently keeping a close eye on Litecoin, with many of them speculating that this might be a sign of adoption. If this is the case, it would correspond with earlier predictions that have announced such a development for late 2018. However, there are also those who believe that this is fake volume, or that a single large transaction influenced statistics.

In the last 24 hours, Litecoin has mostly been traded on Bithumb, with around 29% of total LTC trading being done on this exchange. The second most popular location is ZB.com, with only 10.71% of LTC trading. While Litecoin is listed on more than 130 platforms, most of them do not see any trading or at least some minimal amount.

Is Litecoin trading volume a sign of adoption?

The reasons behind the spike in trading volume are currently unknown, but it is evident that Litecoin’s new popularity did not affect its price in the slightest, at least as of yet. Considering that the change in volume usually comes together with a change in value, there are some investors that are claiming that a price surge is soon to follow.

The value of cryptocurrencies is difficult to predict, and all that analysts have to rely on are the coin’s popularity and previous performances, Despite any optimistic outlook, predicting the price of Litecoin is as uncertain as it can be. While the larger rate of adoption will certainly help the coin, there is still no proof that something like this is actually about to happen.

Others see this as a temporary trend, despite the fact that LTC has surpassed numerous other currencies, including some of the top ones, when it comes to trading volume.

While opinions continue to differ in the community, the fact is that Litecoin trading volume is currently surging. While many believe that the coin’s price has dropped due to the lack of interest in this crypto, it is possible that this is now changing. Whatever the case may be, Litecoin is currently the fifth largest cryptocurrency per trading volume, bested only by Bitcoin, Tether, Ethereum, and EOS. Whether this will change or not still remains to be seen, but at the moment, the coin seems to be doing rather well.

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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

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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…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Jeff Bezos
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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…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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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.

Calculate your total gains

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