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Litecoin [LTC]: Coinbase announces wallet support for the silver coin as calls to add XRP follow

Namrata Shukla



Litecoin [LTC]: Coinbase announces support for the silver coin on its wallet
Source: Pixabay

Litecoin [LTC], the fifth largest cryptocurrency with respect to market cap is in a battle with EOS for the fourth position and is doing well. Coinbase, the San Francisco-based digital exchange recently announced support for Litecoin on their wallet.

LTC joins the league of Bitcoin [BTC], Bitcoin Cash [BCH], Ethereum [ETH], and Ethereum Classic [ETC], which have received support on the wallet. Coinbase updated the users about it on a blog post and via a tweet which said,

“We’re excited to announce support for Litecoin (LTC) on Coinbase Wallet! ”

The blog further stated that users could download an update with Litecoin support on the App Store and Google Play store. It added that Litecoin support will be available from the get-go once the app is updated following which, users can deposit LTC to their wallets by just choosing the ‘Receive’ option on the main wallet page.

The announcement was met by approval by a large section of the online community. However, it was also greeted by a huge number of Twitter users asking Coinbase to add XRP support to their wallet as well. The cryptocurrency was added to the Coinbase custody back in November 2018.

At press time, Litecoin [LTC] was valued at $49.93 with a market cap of $3 billion. The coin noted a 24-hour trading volume of $1 billion, while noting a growth of 1.39% over the past day. The coin recorded a growth of 17.64% over the past seven days and continued to grow by 0.30% over the past hour. The coin was highly traded on OKEx via the trading pair LTC/BTC, with a volume of $76 million. The second place was taken by DOBI Exchange via the LTC/BTC trading pair, noting a volume of $64 million.

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HitBTC responds to allegations of insolvency, refutes claims made by Redditors




HitBTC responds to allegations of insolvency
Source: Unsplash

HitBTC, a Hong Kong-based exchange has been the center of accusations among users on Reddit, Twitter, and other forums. HitBTC users started complaining about issues regarding withdrawal and extensive procedures after one particular user @ProofofReserach put out a thread alleging insolvency of HitBTC.

To put an end to all the accusations, HitBTC has broken its silence with a blog post explaining their side of the story. According to HitBTC, their systems performed well during the winter of 2017-18, however, HitBTC mentioned that due to overwhelming demand for the services, they experienced bottlenecks at an operational level.

Referring to the BitcoinExchangeGuide article, HitBTC responded:

“A widely quoted article, in its entirety, is based on only 2 AML cases. One of them was initiated as part of the investigation into the December, 2018 BTCP security breach, at the request of the coin’s core team. Unfortunately, there is no clear indication of the nature of the second case that can be discerned from the article. The author of the article failed to track the deposit/withdrawal dynamics that did not uncover any irregularities. A simple block explorer or our public System Monitor would suffice for these purposes”

Additionally, referring to the altcoins being added and removed from the platform, the exchange said that they were honored to work with a diverse range of projects, however, since the crypto sphere was still nascent, there were lapses in their judgment in assessing the integration partners. With the above-mentioned prominent cases, HitBTC also addressed other topics.

@ProofofResearch replied to HitBTC’s blog:

“Is there a reason why you’re unable to tell people us where your Bitcoin storage is at? If what I published is as untrue as you claim it is, then providing a wallet address where your Bitcoin funds are stored will go a long way in *proving that*.”

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