Gemini to add Litecoin Support in October
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Gemini to add Litecoin Support in October

New York-based Gemini exchange reported concerning Friday that it would include Litecoin (LTC) trading pairs to its mainstream digital money exchanging platform next month. Right now, the platform underpins US dollar trading pairs for Bitcoin (BTC), Ethereum (ETH), and Zcash (ZEC).

On 12 September, Gemini Exchange which is a digital currency trading platform – answered a request that was made by a Twitter user in a post. In the post, the Twitter user requested in regards to the expansion of Litecoin (LTC) to the Gemini’s trading platform. The official Twitter handle of Gemini Support remarked on the request and said that Litecoin (LTC) would be added very soon.

Official Announcement

The official declaration was made by Gemini’s Vice President of Engineering, Eric Winer, while he was talking in front of an audience on Day 1 of Litecoin Summit 2018, sorted out by the Litecoin Foundation, and held on 14th and 15th September 2018 in San Francisco. What made this declaration much all the more fascinating was the way that this listing would happen on Litecoin’s seventh birthday celebration.

The news revealed only some days after the Winklevoss brothers declared the launch of the world’s first regulated, stable coin, the Gemini dollar (GUSD). This ERC20 coin is based on the Ethereum network and pegged 1:1 to the US dollar.

As anyone might expect, the declaration of the expansion of Litecoin exchanging sets has been met with an overwhelmingly positive reaction from the Litecoin fans.

Market Reaction after the news (Litecoin)

As the news spread, that Gemini had gotten the regulatory endorsement to list Litecoin, costs bounced from $51.51 at the season of the September 12 tweet to its September 13 high of $55.42. After a short plunge into $53, costs hopped to $58.20 through the span of only a couple of hours in the wake of Winer’s declaration.

Gemini is in the news

In an ongoing meeting, Charlie Lee talked about the falling prices of bitcoin, and he said that there is no co-connection between why costs may fall and that the best time to purchase any cryptographic money is the point at which the costs drop.

For various reasons, Gemini has been in the news for the recent months. In July Gemini’s application for bitcoin ETF was dismissed by the Securities and Exchange Commission. Following that, seven days back, Gemini presented its own particular stable coin, Gemini Dollar which is pegged to the US dollar.

Since a week ago, clients have possessed the capacity to convert the U.S. dollars into Gemini dollars and pull back them to an Ethereum address the clients determine. They will likewise have the ability to naturally change over the Gemini dollars into U.S. dollars by storing them into their own Gemini account.

About Gemini Exchange

Gemini Trust Company, LLC (Gemini) is a digital currency exchange and custodian that enables clients to purchase, sell, and store digital resources. Gemini is a New York-based organization that is directed by the New York State Department of Financial Services. Gemini was established in 2014, by Cameron and Tyler Winklevoss.

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A blogger and an entrepreneur, Sagar is also experienced in business and financial analysis. He enjoys studying the working of different business models and wishes to set up his own venture in the Business Process Outsourcing industry.

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