Crypto Facility – United Kingdom based crypto exchange has launched Litecoin futures from the 22nd of June. The announcement and movement has brought new vitality and hope to LTC market. By doing so, the digital currency exchange is giving traders/investors the opportunity to go for a shot/long term hold of future contracts with Litecoin.
Litecoin Charlie Lee
The very much respected and famous throughout the cryptoverse – Charlie Lee, co-founder of Litecoin has let know the community about his support of the launch. According to him, futures trade of similar nature give traders the chance to go in and out for Litecoin while institutional investors are able to enter for the crypto also from around the globe. Many supports the idea that these trading-futures could step up Litecoin’s price liquidity, efficiency and transparency.
Just recently, the Federal Reserve Bank of St/ Louis has declared that for of the largest by market capitalization cryptos will be added to its platform. These coins are Bitcoin Cash, Ethereum, Litecoin and Bitcoin.
For crypto-verse enthusiasts and traders, this is turning out as a really good chance to make a good position in the mentioned crypto. FRED – or the database used by St. Louis bank [standing short for Federal Reserve Economic Data] is going to be fed data regarding crypto prices from world’s one of the biggest and most influential crypto exchange ‘Coinbase’. What made the team decide to take this move is that it would hold economic researchers aware of the price movement and what is causing the process.
Litecoin is currently being traded at $76.51 approximately while its market capital rests at $4.373 billion. Around $258 million worth of Litecoin has exchanged hands within the past 24 hours.
Without a doubt it is a very harsh situation for the whole market as the lead coin BTC can not make a positive move upward for days now. But, it’s also a fact that there has been such Bitcoin price dip in the past as well, which was followed by a bull breakout and this is causing FOMO among investors. Nobody wants to lose this opportunity by not making their move when the prices of top 10 cryptos are low. Once Litecoin turns bullish again, it will be very intriguing to see which position it will take.