Two crypto benchmark indices from CoinMarketCap launch on Nasdaq, Bloomberg Terminal, Thomson Reuters and Börse Stuttgart today.
Not much has seemed to happen with Litecoin (LTC) with respect to news and buzz after the launch of Litepay was cancelled. Many had even stated that this was the beginning of the end for Litecoin as a project and as a coin in the markets. However, good news came with the CEO of Abra, Bill Barhydt, declaring that Litecoin would be its platform of choice for smart contracts moving forward. This announcement was made early in April this year.
To add to the above signs of rejuvenation of LTC, the Litecoin community has not lost faith and hope in the coin. As a matter of fact, the community is emphatic that Litecoin will be back to its winning ways with several new listings. @theliteschool was quick to point this out in a tweet on the 18th of May:
Here’s a recap of
$LTC news in this week alone:
@GeminiDotCom to add #litecoin
@AbraGlobal opened LTC deposits
@The_Blocknet & @KomodoPlatform DEX’s add LTC
@openbazaar now allows P2P LTC trading
@toshi will add LTC
-Börse Stuttgart launched LTC trading.
This tweet indicates that Litecoin is expected to be listed on several exchanges. The first one is the Gemini Exchange that is owned by the Winkelvoss twins. The exchange made headlines when it announced that it would be listing ZCash (ZEC) and going ahead in offering trading pairs with the privacy coin.
With respect to Abra Global opening LTC deposits, the announcement was made only yesterday on twitter by the firm:
We now support direct
#Litecoin deposits and withdrawals! You can now fund your account with LTC from an external wallet and invest in the 25 cryptocurrencies and 50+ fiat currencies on Abra. Please make sure your app is updated to the latest version!
With respect to market performance, Litecoin is in the number 6 slot and according to coinmarketcap.com. The coin is currently trading at $134 and down 6.13% in 24 hours. Its marketcap is $9.2 Billion shy of that of EOS which is in the number 5 spot. A lot of work has to be done for LTC to reclaim a top 5 slot.
The news listings mentioned above, are surely to help boost the presence of LTC in the market and possibly increase its value back to the anticipated levels by the LTC community.
The fintech arm of Germany’s second-largest stock exchange is set to launch a cryptocurrency trading app later this year.
Sowa Labs, a subsidiary of Börse Stuttgart, unveiled the app on Friday, which it said would be available for use in September and will initially offer trading support for bitcoin, ether, XRP and litecoin. According to the app’s official website, “more assets [are] coming soon.”
The app, called Bison, will be free to download and, according to its developers, won’t charge trading fees at launch. A prototype of the app is being demoed during a trade show in Stuttgart this week.
“Bison makes trading in digital currencies easy. It is the first crypto app in the world to have a traditional stock exchange behind it,” Ulli Spankowski, Sowa Labs’ managing director, said in a statement.
The exchange acquired Sowa Labs in December of last year, taking a 100 percent stake in the Ulm-based startup. While the exact figure isn’t known, the acquisition price was reportedly in the millions of euros.
The development represents the latest instance of a traditional stock exchange – through a subsidiary – getting into the cryptocurrency trading game.
Last month, Canadian stock exchange operator TMX announced that its wholly-owned subsidiary had a struck a deal in order to set up a cryptocurrency brokerage. That brokerage, which will initially focus on bitcoin and ether, is set to launch in the second quarter of 2018, as reported at the time.
Cryptocurrency image via Shutterstock.
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