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Winklevoss Twins Eyeing Litecoin for Gemini Exchange

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Winklevoss

Litecoin is gaining traction as one of the major cryptocurrencies on the market. Where Bitcoin has dominated the digital currency landscape, Ethereum is the same for smart contracts. However, Litecoin’s strong advantages compared with Bitcoin have made them a near parallel option. As exchanges expand and increase their offerings beyond the big two, Litecoin is almost always in the running for initial product offerings. Recent announcements by the Winklevoss Twins have suggested that the two are actively seeking to include Litecoin in their Gemini exchange. This is a major triumph for the cryptocurrency referred to as ‘The Silver to Bitcoin’s Gold.’

Litecoin’s Exchange Proliferation

Although technically an altcoin, Litecoin has repeatedly proven that they have the ability and the desire to compete with the major blockchains. It is still surprisingly difficult to purchase cryptocurrency directly with fiat. Most gateways focus on Bitcoin, but Litecoin has racked up a considerable amount of LTC/USD trading pair locations. Major exchange Kraken offers a direct fiat exchange for Litecoin, as does Bitfinex. While these are significant options, they still pale in comparison to the key gateway; Coinbase.

Above all other exchanges, Coinbase is the easiest to use and the highest volume for direct fiat exchanges. They offer only four cryptocurrencies; Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Due to their ease of use, Coinbase is the choice of most new investors. All inter-currency trading happens on sister site GDAX. Even the slightest rumor of addition to Coinbase can cause a currency’s value to skyrocket. That Litecoin is available on this site is a major feather in their cap.

The Gemini Exchange

As one of a select few cryptocurrency related businesses legally operating in New York, Gemini is an up and coming fiat gateway. Their slick presentation and ease of use are easily competitive against Coinbase. Further, the work that Gemini has put into obtaining licenses and certifications makes them one of the most reputable exchanges on the market. It helps that the owners and operators of Gemini are the vaunted Winklevoss Twins – known for a multitude of successful tech-based projects.

During recent interviews, the Winklevoss Twins have stated that they hope to introduce new coins to their exchange. When further questioned, they added that their immediate focus is on coins within the Satoshi family – Litecoin and Bitcoin Cash. This would open up new avenues for the futures offered by CBOE Global Markets, which operate exclusively with prices backed by Gemini. Obviously, this would also have a huge effect on the valuation of Litecoin itself.

Greater Adoption of Litecoin

Litecoin is in the middle of a marketing blitz. They have announced two separate products that seek to bring Litecoin use into the real world – LitePay and LitePal. LitePay’s recent release has hit a roadblock in the face of the recent cryptocurrency rejection by major credit card companies. However, it still provides the ability for merchants to fully integrate Litecoin transactions into their business. LitePal’s release is scheduled for later this year and will create a digital landscape for Litecoin use that operates in a similar fashion to Paypal.

If Litecoin continues to be adopted by large exchanges, we may see the overtaking of Bitcoin Cash’s market cap. This event is dubbed ‘The Flappening’ by the founder of Litecoin. This is a play on ‘The Flippening’ that investors anticipate happening between Bitcoin and Ethereum. While we are still quite some distance from this occurring, the array of positive news gives the idea a lot of credibility.

Crypto Quicksilver

The ‘Silver’ cryptocurrency has a bright future ahead of it. The low transaction fees and rapid processing already give Litecoin a massive edge over the competition on Coinbase. Users may buy into Ethereum or Bitcoin, but the smarter investors don’t leave the exchange using these coins. The ability to trade ETH and BTC for Litecoin on Coinbase’s GDAX exchange severely reduces the fees associated with funding an exchange account.

The same will almost certainly be true of Gemini if they do decide to add the upstart digital currency. Should we see Litecoin futures as a part of Gemini’s futures agreement, that will further increase its value? The propensity towards crypto index funds is also a potential positive, as any fund will include the major currencies – of which Litecoin is one of the best.

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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of TechCrunch via Flickr

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

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

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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…

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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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:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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