Litecoin [LTC] is now officially available on Korbit, a cryptocurrency exchange platform in South Korea. According to the Twitter announcement made by Charlie Lee and the Korbit website, Litecoin trading has already commenced.
Korbit is reported as the first and the largest crypto-exchange platform in South Korea and is ranked #28 on Coinmarketcap according to the past 24-hour trading volumes. The platform provides space for the trading of digital currencies such as Bitcoin, Ripple, Ethereum and now even Litecoin. The exchange platform is well known for its low fees i.e. 0 % for investors and 0.2% for revenue producers. Deep liquidity ensures a stable unbiased market rate for the users.
Litecoin network was released in the year 2011 since then it has competed well against Bitcoin and other altcoins positioning itself at number 7 according to coinmarketcap. Litecoin network has become accessible to users due to its swift transaction time which takes 2.5 minutes per block, Bitcoin on the other hand processes these blocks at 10 minutes. Litecoin offers a Proof-of-Work algorithm which is supported by Scrypt.
Litecoin is currently trading at $154 to a token with a market cap of $8 billion.
Rahul Kanotra a twitterati says,
“Wow, Charlie is giving away 100 Litecoins to the top users. Even UAE’s biggest exchange famously known as bitoasis is now supporting $LTC trades, LTC rocks. 16 million trade volume in the last 24H that’s pretty big #Litecoin”
Lili Green another twitterati said that,
“This is amazing news for Charlie Lee and Litecoin users. I can see Lee trying hard to convince people to HODL or at least invest through the new Exchange. If you haven’t figured it out yet it’s pretty simple new exchanges means more volume of currency and that leads to more pumping of money, thus increasing the long-term value. Hence Buy More”
James Jung a crypto-enthusiast says,
“This is fantastic news. However, the Korean exchanges DO NOT list any new crypto for no reason. They know something, and they smell something”
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