Connect with us

Blogs

Reasons Why Litecoin Can Be Effective On Wall Street

Published

on

Wall Street

When it comes to stock brokering and lucrative investments, the influence of Wall Street on the entire world economy cannot be denied. For centuries, Wall Street has affected the global economy, including various business organizations and brokerage firms around the world both in positive and negative ways. As far as the current scenario is concerned, the overall market trend is slightly bearish and as a result, both novice and experienced investors are finding themselves under an inordinate amount of pressure. Very recently, the Fed raised the rate of interest for the sixth time since the financial debacle occurred in 2009. As an obvious repercussion of this incident, several stocks are undergoing massive downfalls causing considerable losses to many traders.

Under such circumstances, a large percentage of the investors are looking for an alternative where the scenario is not this bleak and that’s where the cryptocurrencies come. Although the cryptocurrency Bitcoin was introduced in the year 2009, the active trading of these currencies didn’t commence until 2011. Now, there are nearly 1800 such currencies available in the market besides Bitcoin. Despite the fact that the stability of the cryptocurrency market largely depends on the stability of Bitcoin, some very popular Altcoins are also exhibiting considerable potential. Litecoin can certainly be included in the group of such coins.

Here, a few aspects of Litecoin would be discussed that would help you comprehend why this coin can be a decent alternative to stock trading for Wall Street investors.

Litecoin’s Distinct Features:

This cryptocurrency was introduced to the crypto-market to offer an ameliorated alternative to the first cryptocurrency Bitcoin. As a result, Litecoin comes with several advantageous features that Bitcoin, despite being the most popular digital currency, is unable to provide. Such features include:

a. Lightning fast transaction: Litecoin offers nearly four times faster transaction speed than Bitcoin. Bitcoin takes nearly 10 minutes for block confirmation, whereas Litecoin takes only 2.5 minutes. This leads to a considerably lower transaction fee ($0.30 compared to Bitcoin’s $8.50).

b. Stability and security: Litecoin uses a Scrypt algorithm in lieu of Bitcoin’s SHA-256 algorithm. As a result, Litecoin offers a much-sophisticated blockchain program that is nearly impregnable for the hackers. Also, Litecoin’s price does not get affected by the drastic changes in the price of Bitcoin. It offers stability unlike most other cryptocurrencies available at the moment.

Recent Events Concerning Litecoin:

This cryptocurrency has been a part of major market events in recent times. Some of those events include:

  • The Launch LitePay: Litecoin launched LitePay on 26th February of this year. Since the announcement of this launch, the general trend of this cryptocurrency has been bullish. LitePay offers a new user base to the Litecoin and consequently plays a major role in increasing the circulation of this cryptocurrency as well as market capitalization.
  • The Launch of Litecoin Core: Launching Litecoin Core version 0.16.0 at the beginning of March turned out to be a very wise decision for the development team behind this cryptocurrency because, during that time, the entire crypto-market had plummeted to record low price ranges in terms of both market cap and individual coin price. The launching of Litecoin Core helped this cryptocurrency stay afloat during those few days and recover reasonably quickly.
  • Imminent Listing on Gemini Exchange: Founded by Cameron and Tyler Winklevoss, Gemini Exchange has become one of the most leading cryptocurrency exchanges in the world with millions of users spread across the globe. According to their statement, Litecoin is going to be listed along with BCH/LTC trading pair on this exchange very shortly. This listing is likely to augment the overall usage and trading of Litecoin significantly.

Current Market Scenario and Speculation:

As of this moment, the price of one Litecoin is nearly $160. This currency holds the fifth position on Coinmarketcap with a whopping market capitalization of nearly 9 billion USD (as per the data of 26th March 2018). With the current listings and major events on the line, the trend is likely to show another surge very soon.

As for the Wall Street investors, Litecoin is capable of providing the stability that is mostly unavailable in the rest of the cryptocurrency and the stock market. The Scrypt algorithm used for the development of Litecoin also accounts for its security by providing an impregnable firewall. In November 2017, the overall Litecoin market experienced a rise of 3000 percent after Bitcoin had reached the $10,000 mark. Litecoin, being one of the leading currencies among these Altcoins, can be an extremely promising prospect for the investors in Wall Street.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

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.

Image courtesy of dpbirds via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

Continue Reading

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

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…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

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…

Continue Reading

Press Release