Litecoin [LTC], the 7th biggest cryptocurrency in the market, was recently listed on Gemini, one of the leading cryptocurrency exchange platforms around the world. The announcement has stirred up the whole Litecoin community, with the creator of Litecoin, Charlie Lee joining the bandwagon.
Charlie Lee stated that with the coin listed on Gemini, all the prime Bitcoin exchanges now provide trading services for the cryptocurrency. Moreover, the Managing Director of Litecoin Foundation stated that ever since the failure of Mt. Gox in the year 2014, his quest was to ensure that the coin was listed on exchanges with the focus being on increasing the liquidity.
He said on Twitter:
“Ever since MtGox announced Litecoin support in 2013 and failed to deliver, I’ve been on a mission to get LTC added to exchanges to help increase liquidity. With the launch of LTC on Gemini today, every single major Bitcoin exchange supports Litecoin. Mission accomplished!”
Mt. Gox was the biggest Bitcoin exchange platform in 2013. Along with Bitcoin [BTC], the exchange had listed top coins in the market including Litecoin. The exchange continues to be popular because of its hack which resulted in the compromise of around 7% of the exchange’s BTC. Following the hack, the exchange tumbled in the market within a few months and is currently undergoing legal proceeding to pay back the creditors.
Nova, a Twitterati said:
“Instead of liquidity you should be working towards adoption. Smfh. The community is shouting Pay With Ltc and you are out here looking for exchanges lol da faq?
#ltc #litecoin @SatoshiLite have you not realized the value of Ltc falls every time you add an exchange. Stop ‘helping’”
Moreover, BlockFi, a company offering credit backed by cryptocurrency, announced they will be providing loans backed by Litecoin [LTC] and Gemini stable coin [GUSD], marking this as another step towards adoption.
Recently, the coin went live on Robinhood, a brokerage and cryptocurrency platform, with $0 commission. Succeding the launch of the cryptocurrency on the platform, Charlie had stated that the interface of Robinhood was “really slick” and that it was a great way to “get exposure for LTC price movements”. In addition, the coin got support from Bittrex, one of the leading exchange platforms, as the coin was open for trading in the USD markets.