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Litecoin [LTC] USD markets open on Bittrex; adoption in progress

Priyamvada Singh

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Litecoin [LTC] USD markets open on Bittrex; adoption in progress
Source: Pixabay

On 12th September, Bittrex, one of the biggest cryptocurrency exchanges in the world extended its support to the 7th largest cryptocurrency, Litecoin [LTC]. Bittrex recently opened the USD market on its platform and started off by pairing USD with several other cryptocurrencies prior to Litecoin, such as Cardano [ADA] and Zcash [ZEC]. In its official Twitter announcement, the platform wrote:

“We’re rolling out more USD pairs. On Sep 17 we’re launching US dollar (USD) markets for TRON (TRX) and Litecoin (LTC). Eligible #Bittrex accounts created before Sep 4 are already enabled for USD trading.”

When Bittrex enabled the USD markets on its platform, it gave its customers the option to either trade USD or opt for the services related to deposit and withdrawal also. However, one can only be a customer at Bittrex if one belongs to the areas the platform operates in, according to the customer eligibility criteria of Bittrex. These locations are New York, Washington State and Montana.

Under the recent developments of Litecoin, the cryptocurrency took over Bitcoin in SegWit usage and is approaching 50% of the total usage. The creator of Litecoin, Charlie Lee tweeted the news of the same, displaying the SegWit usage data compiled by a Twitter handle called Blockchair.

Not more than a week ago, the Litecoin Lightning Network also received the support of Casa Lightning Node. The integration is scheduled to take place later this year with the purpose of enhancing the payments that take place on the Litecoin network, in terms of speed and efficiency.

When it comes to the recent haunting of the bear in the cryptocurrency market, Litecoin is no exception. Among other altcoins, Litecoin also suffered an intense damage and has still not recovered. Currently, the cryptocurrency is down by 2.86% in the past 24 hours. At press time, LTC is trading at $50.34 with the market cap of $2.9 billion and a 24-hour trading volume of $274.7 million.

Randy DGB, a cryptocurrency user and a Bittrex follower commented:



“I can’t use your site for USD purchases because I live in PA. I hope this changes soon.”

Another blockchain enthusiast and an apparent cryptocurrency investor, Armondo Bilancione enquired:

“This is great news.. But when is it coming to MD?”

Joe S, a Twitterati and a Bittrex follower also stated:

“I got an idea! Support & list some of these forks instead of wrecking your customers over and over again. If you want crypto to be successful in the long term, do your part & help out instead of leaving everybody to die”



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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Altcoins

76497|Tron-based USDT: Huobi Global, OKEx and Gate.io announce support for new TRC-20-based Tether

Febin Jose

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Source: Pixabay

Tron Foundation’s relentless push for mass adoption received a major boost recently when Justin Sun, the Foundation’s Chief Executive Officer, announced their partnership with Tether [USDT] to create new stablecoin. The partnership would essentially bring USDT on the Tron blockchain, making transactions faster and free-of-cost, while also improving the use-cases of the stablecoin.

Three major exchanges have now announced support for the Tron-based version of Tether, further bolstering its position in the market. Singapore-based exchange Huobi Global, Malta-based exchange OKEx, and Gate.io, a blockchain assets exchange platform, announced in separate press releases that they will be supporting the new version of Tether.

Source: Twitter

Source: Twitter

Source: Twitter

Source: Twitter

 

 

 

 

 

 

 

 

The TRX-USDT partnership was announced in early March in an effort to bring in a TRC-20-based USDT into the crypto-market. The ‘improved’ coin would stick to the technical token standards maintained by the Tron blockchain and would be interoperable with all Tron-based DApps and protocols.

In their respective press releases, Huobi Global and OKEx stated that the decision was fueled by strong user demand for inclusion of a full-spectrum of stablecoin trading. The exchanges also made it clear that there would now be three different protocol versions of USDT on their platforms: the Bitcoin network-based USDT-Omni, Ethereum-powered USDT-ERC-20, and the new USDT-Tron.

Though the exchanges are some of the world’s largest in terms of trading volume, Tron Foundation had earlier said that the TRX-USDT version was made primarily for Tron-powered Decentralized Exchanges [DEX].



Recently, Tron Foundation also announced an incentive scheme exclusively for TRX-USDT holders. The $20-million incentive plan included the addition of a 20% initial Annual Percentage Rate [APR] for holding the cryptocurrency, which was significantly higher than its prime competition, the USDT-Omni. The plan also announced a scheme spanning over 100 days where USDT-TRX holders would be rewarded more USDT-TRX.

Tron’s DApp program and BitTorrent Token [BTT] launch also saw huge success this year, leading to a temporary surge in the token’s price before a bearish market ensued. On March 17, TRX registered a transaction volume that was five times more than the cumulative transaction volume of its closest competitors ETH and EOS. The transaction volume during this move was recorded to be over $100 million.

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Altcoins

76476|DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum

Akash Anand

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DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum
Source:Pixabay

The cryptocurrency market was punctuated by several altcoin surges this week, with Tezos and Ontology leading the charge. The latest entrant to ride the bull wave was DigiByte, the 35th ranked cryptocurrency on CoinMarketCap. It climbed up the charts to become the biggest gainer in the top 50.

Source: CoinMarketCap

At press time, DigiByte [DGB] was trading at $0.015, and was rising by 9.72%. The cryptocurrency held a total market cap of $169.073 million with a 24-hour trade volume of $3.091 million. A majority of the trade volume was split between BiteBTC and Bittrex, two popular cryptocurrency exchanges. BiteBTC recorded DigiByte transactions worth $1.156 million, while Bittrex recorded $315,308 worth of DGB trade.

Source: CoinMarketCap

The 24-hour chart showed the cryptocurrency’s value shooting up, before settling into sideways movement. DGB’s value surged from $0.0126 to $0.0144, in under an hour. It was speculated by many online that the addition of DigiByte on Magnum Wallet, and its latest release, the Magnum Notifier Bot, was what sparked the DigiByte surge. The bot is a free-to-use Telegram bot which notifies the user when the connected wallet participates in any transactions. The bot also gives DGB holders all transaction related information.



DigiByte was also helped by its community starting a new online campaign requesting Coinbase CEO Brian Armstrong to add DGB to its fold. Frederik Bf67, a Twitter user, and a DigiByte fan tweeted:

“Hello Brian, i would love to see @coinbase adding @DigiByteCoin to it’s platform. You know #DGB has been around for a long time and has proven itself over time to be a highly secure and fast blockchain with exellent use cases suported by thousands of people on every continent.”

Another DigiByte fan, Mark Brown replied on the same thread saying,

“Tell that to @barrysilbert , he’s the one to talk to brother 😏

@brian_armstrong and @AsiffHirji can do so much. It’s out of their hands.

I’ve even helped pass along a petition and nothing. I’ve gotten over 10k signatures to have #dgb added to #coinbase and nothing.”

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