After the news this morning that Huobi will list Litecoin we saw LTC take off today- both in its USD value (up to 17USD) and strength against BTC (up to 0.027) to the sound of clucking chickens. Let’s take a look with some graphs..
Here we can see those green bars and for everyone holding LTC wants to see, its like a line of Christmas trees.
But before we start celebrating let’s take a step back.
While the price of LTC has reached a recent high and bucked the downtrend, it is still only at it’s January highs. It must also be noted that currently its furry memecoin cousin saw higher growth today (25% vs LTC 7%)
Is this to say the growth should be ignored? Definitely not, however if your hoping to see LTC to its fullest remember it needs to cross the $48 mark again.
Stay tuned for analysis of LTC/BTC- is the silver cryptocoin breaking free?
Recently announced via a banner on the exchange homepage, Huobi will list the silver cryptocoin in 7 days. This news will be expected to be welcomed by traders and speculators.
Keep up to date with all Huobi related Litecoin news here at https://litecoinevents.wordpress.com
The internet rumour mill has been awash with claims of the imminent adoption of LTC trading by Huboi- China’s largest exchange. Screenshots of twitter updates with English translation and photos of new server equipment have been circulated adding substance to the claims.
This news will reaffirm the notion of demand in China for LTC trading- welcomed by most due to expected uptick in demand and price of the silver crypto coin.
BTC China (CEO Bobby Lee) recently announced support of Litecoin trading with an attractive 0% commision charge. This has eagerly been anticipated due to Lee being the the elder brother of litecoin inventor, Charles Lee. (Explains the banner design!).
Currently financial institutions in China have been banned from bitcoin business by Chinese regulators which may give attraction to LTC.
The news of LTC listing helped boost the LTC/USD value from its early 2014 lows of 10-12USD up to highs of 21USD. This has now stabilized at the 16USD mark- something not seen since mid February/ late December.