Litecoin [LTC] USD markets open on Bittrex; adoption in progress

On 12th September, Bittrex, one of the biggest cryptocurrency exchanges in the world extended its support to the 7th largest cryptocurrency, Litecoin [LTC]. Bittrex recently opened the USD market on its platform and started off by pairing USD with several other cryptocurrencies prior to Litecoin, such as Cardano [ADA] and Zcash [ZEC]. In its official Twitter announcement, the platform wrote:

“We’re rolling out more USD pairs. On Sep 17 we’re launching US dollar (USD) markets for TRON (TRX) and Litecoin (LTC). Eligible #Bittrex accounts created before Sep 4 are already enabled for USD trading.”

When Bittrex enabled the USD markets on its platform, it gave its customers the option to either trade USD or opt for the services related to deposit and withdrawal also. However, one can only be a customer at Bittrex if one belongs to the areas the platform operates in, according to the customer eligibility criteria of Bittrex. These locations are New York, Washington State and Montana.

Under the recent developments of Litecoin, the cryptocurrency took over Bitcoin in SegWit usage and is approaching 50% of the total usage. The creator of Litecoin, Charlie Lee tweeted the news of the same, displaying the SegWit usage data compiled by a Twitter handle called Blockchair.

Not more than a week ago, the Litecoin Lightning Network also received the support of Casa Lightning Node. The integration is scheduled to take place later this year with the purpose of enhancing the payments that take place on the Litecoin network, in terms of speed and efficiency.

When it comes to the recent haunting of the bear in the cryptocurrency market, Litecoin is no exception. Among other altcoins, Litecoin also suffered an intense damage and has still not recovered. Currently, the cryptocurrency is down by 2.86% in the past 24 hours. At press time, LTC is trading at $50.34 with the market cap of $2.9 billion and a 24-hour trading volume of $274.7 million.

Randy DGB, a cryptocurrency user and a Bittrex follower commented:

“I can’t use your site for USD purchases because I live in PA. I hope this changes soon.”

Another blockchain enthusiast and an apparent cryptocurrency investor, Armondo Bilancione enquired:

“This is great news.. But when is it coming to MD?”

Joe S, a Twitterati and a Bittrex follower also stated:

“I got an idea! Support & list some of these forks instead of wrecking your customers over and over again. If you want crypto to be successful in the long term, do your part & help out instead of leaving everybody to die”