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Bitcoin [BTC], Litecoin [LTC], Stellar Lumens [XLM] to get a lift with Nasdaq’s support?

Sthuthie Murthy



Nasdaq could be the fuel to the drained market
Source: Max Pixel

Litecoin [LTC], Stellar Lumens [XLM], and Bitcoin [BTC] have a brighter side to look up to as one of USA’s largest stock exchange, NASDAQ announced support for these currencies. The exchange will make its debut to the digital asset market with some plans for the future to set up a crypto exchange.

The plans to develop the platform are underway, as the high-profile CEO, Adena Friedman stated, whereas no timelines have been released to date. This could raise the bar and change the entire crypto-sphere for a positive change.

According to some news reports, Nasdaq is supposedly backing up the aforementioned currencies with a popular partner, the Gemini exchange which is the first in the country to be completely licensed exchange platform. Their partnership looks at allowing Gemini to utilize Nasdaq’s tools and technologies to monitor real-time trade activities and augment security. The exchange will back the currencies and also work on developing their own crypto exchange platform.

Stellar Lumens [XLM] has been appreciated much in the recent days for its fairly good performance in the market and for grabbing many big deals like collaborations with IBM and Kin Foundation among others. XLM is at the 8th, displaying consistency and stability in the volatile market.

The other currency to be backed by the exchange is the world’s 6th largest cryptocurrency, Litecoin which is basically an offspring of the market’s original currency Bitcoin. The current trading value for Litecoin is $121 with no major loss or gains. The market cap stands at $6.91 billion and is popularly known for its low fees and for being accepted widely in various stores and websites.

Bitcoin, the largest currency in the world that has ever been created since the crypto-market came into existence is also being supported by Nasdaq. With a $128.5 billion market cap and no other currency close to the figures, it has been ruling the market ever since it came to light.

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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.