Litecoin price is rising fast and is chasing bitcoin cash

After the huge increase in bitcoincash (BCH) last week, is now also litecoin (LTC) is undergoing a gigantic increase. The reason behind this is probably the launch of EDX Markets, a cryptoexchange which is backed by several stock market giants. The crypto exchange has listed four cryptocurrencies, including the risers BCH and LTC.

Investors choose litecoin

The listing on the crypto exchange has returned investor interest in the Bitcoin-based currency. There is also a Litecoin halving coming up this month. The halving, inspired by the Bitcoin network, means that the number of LTC released for a mined block will decrease from 12.5 LTC to 6.25 LTC.

A halving is often accompanied by a large increase in the price of the currency. Since four o’clock yesterday morning, the value of the coin has risen from $85 to a maximum of $111.50. At the time of writing, the coin is trading at $109.90, representing a 29.4% increase over the past 2 days.

Even more impressive is the increase in trading volume. In the past two days, LTC trading volume has increased nearly tenfold. Yesterday morning, 24-hour trading volume hovered around 400 million. This morning trading volume hit an impressive $3.57 billion. Such an increase is equivalent to an increase of 793%. Due to an increase in LTCs market cap from $6.2 billion to $8.1 billion, LTC is now in the top ten of biggest coins.

LTC and BCH are both based on the Bitcoin network. EDX Markets decided to list these two coins on the exchange as they are not involved in the war between the SEC and the crypto industry. They are both, like bitcoin, decentralized enough not to be suspected of being a “security.” Also big brother bitcoin (BTC) itself and ethereum (ETH) are tradable on the platform.

Read Also:  Japanese Bitcoin Giant Soars 500% on Stock Market with Coin Buys

Crypto exchange EDX Markets

The reason behind the increase in these currencies can be found behind this development. EDX Markets is a prominent crypto exchange with several ‘Wall street giants’ behind it.

Client cryptocurrencies are controlled by a third party to avoid a scandal like that of ftx to prevent. Currently only institutional clients can trade on it, but interested parties can contact EDX Markets to get an account.

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here