Litecoin (LTC) Trading Launches on Gemini Today

Litecoin (LTC) gained an important listing as Gemini trading was scheduled to start on October 16. The launch is gaining the attention of the crypto community, including Weiss Ratings, which is closely monitoring the stability and liquidity of coins:

https://twitter.com/WeissRatings/status/1051900555067609088

Deposits have been building up on the exchange since October 12, waiting for the launch of actual trades. The pairings offer a fiat on-ramp through LTC/USD, there are the obligatory LTC/BTC and LTC/ETH pairs, as well as a ZEC/LTC pair. The latter increases the liquidity of the ZCash (ZEC) market, as Litecoin is seen as one of the networks for fast and relatively cheap transactions to move assets between exchanges.

“The addition of Litecoin further solidifies Gemini’s standing as the go-to exchange for retail and institutional investors alike. Gemini continues to grow with a “security-first” approach and we have worked closely with the NYSDFS to gain approval for Litecoin trading and custody services,” announced Eric Winer, VC of engineering at Gemini in a recent blog.

Because of safety concerns, the launch of LTC trading far precedes the addition of Bitcoin Cash (BCH). Gemini will delay the latter listing until a planned hard fork passes in November, and the network proves its stability.

LTC traded at $54.89, near its usual levels, on volumes of $323 million in 24 hours. In the past months, LTC has been relatively stable, although it is still 86% down since its all-time high. In the past week, LTC also saw a price shakedown, sinking from $57 down to $51, later to spike above $56 again.

The Litecoin digital asset is now seven years old, one of the longest-surviving coins present on the largest and best exchanges. Next year, the Litecoin network will go through another halving of the reward, an event that sometimes leads to higher prices. But LTC has remained affected by the current bear market.

LTC trading is concentrated on OKEx and other Asian exchanges. Around 30% of volumes are against Tether (USDT), and around 38% against Bitcoin (BTC).

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.