Litecoin And US Dollar See LTC/USD Trading Pairs On Bittrex Exchange
Bittrex cryptocurrency exchange has extended its crypto support to Litecoin (LTC), one of the largest crypto coins in the industry. This development comes soon after Bittrex had opened its USD markets on its exchange and started to pair USD with other cryptocurrencies before Litecoin, including Zcash (ZEC) and Cardano (ADA).
The announcement was made through the firm’s official Twitter handle where they unveiled that they would be rolling out numerous USD pairs. The tweet stated that the platform would launch the US dollar markets for Litecoin (LTC) and Tron (TRX). The update will be eligible to all Bittrex accounts, thus enabling clients to start trading with their preferred USD pairs immediately. The current suitable client locations for USD purchasing includes Montana, New York, and Washington state.
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. New user or want to deposit/withdraw USD? Details: https://t.co/KA248OA2Bz pic.twitter.com/21xA8xZ4vm
— Bittrex (@BittrexExchange) September 12, 2018
Litecoin (LTC) Shows Rapid Growth
After the ongoing Litecoin updates, the crypto-coin rose above Bitcoin when it comes to SegWit utilization and is fast approaching nearly half of the overall usage. Charlie Lee, the Litecoin creator also tweeted out the Bittrex news, while displaying the significant SegWit usage information.
Over the last few days, LTC’s lightning network received support from the Casa Lightning Nodes. This integration is planned for the final quarter of the year, and the aim is to enhance the payment processing on Litecoin’s network, with regards to efficiency and speed.
When looking at the recent poor performance within the crypto market, Litecoin has also been impacted significantly. Compared to other altcoins, LTC also suffered excessive damages and is yet to recover fully. The crypto coin recently went down by 2.8% over the last 24 hours. Other notable metrics about the currency include its $50.34 trading price, 2.9-billion-dollar market capitalization and a $247 million trading volume in the previous one day.
Randy DGB, one of the Bittrex client and an avid crypto enthusiast, was happy about the addition of LTC. However, he complained that he did not have access to USD purchases on the platform since he lived in PA. He added that he hoped that the platform would make it possible for people living in other states would finally get that USD purchase functionality soon. His comments were also reiterated by Armondo Bilancione, who inquired when that feature would come to MD.
Joe S, another Bittrex client, did not have kind words for the platform. He asked Bittrex to list and support the crypto forks rather than wrecking their clients now and then. He added that the only way for cryptocurrency to be profitable over the long run, then it would take Bittrex to do their part and assist other altcoins rather than leaving everyone out to die.
The addition of Tron and LTC for USD pairing on Bittrex is useful towards driving adoption and utilization of blockchain technology. Additionally, the multiple USD pairs now available will reduce the influence and dominance of one altcoin over other tokens within the cryptocurrency sector.
Also, the crypto exchange system also seeks to give its clients a more secure, fast and convent trading option along with access to numerous exciting blockchain startups across the world. The market reaction so far has been positive with many supporters believing that it would help increase the volume of both LTC and TRX in the market.