Gemini To Introduce Litecoin Support, LTC Surges

Gemini To Introduce Litecoin Support, LTC Surges
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Gemini To Introduce LTC Support On October 13th, 2018

In a recent interview with CNBC’s “Fast Money” segment, Charlie Lee, a well-known cryptocurrency personality and the founder of the Litecoin project, discussed the San Francisco Litecoin Summit, which was upcoming at the time of his appearance on-air.

Brian Kelly, CNBC’s go-to cryptocurrency expert, asked Lee about what he wants the event’s attendees to take away from the summit. Litecoin’s founder, who obviously plays a key role in the event, responded by explaining:

“I would like for people to focus on the technology, adoption, merchant adoption and also how to scale. So things like the Lightning network, sidechains, and things that would help Bitcoin and Litecoin scale… And I think with the price currently depressed, it’s a good time for people to sit down and have their head down and actually working to get stuff done.”

And now that the event has now passed, it is time to look back to see what happened, what was developed, and what was revealed.

As per an official tweet from Gemini, a New York-based startup headed by the crypto-friendly Winklevoss twins, its exchange platform will be adding LTC support in one months time (October 2018), which is just the development that Lee was alluding to in the aforementioned statement.

This news was divulged on-stage at the Litecoin-focused event on Friday by Eric Winer, the exchange’s Vice President of Engineering, who stated, “We are working on adding Litecoin… we are pleased to announce Gemini will be launching Litecoin support starting October 13th, 2018!”

Interestingly enough, per a tweet from the Litecoin Foundation, which was the group that put on the event, the date revealed for LTC integration is also Litecoin’s seventh birthday. So some say that the chosen date was evidently deliberate, in a good way that is.

While the timeline was unknown previously, many saw this integration as a long-time coming, due to the fact that the Winklevoss-backed exchange got regulatory approval from the New York Department Of Financial Services to list Bitcoin Cash (BCH), Litecoin (LTC), and most notably, ZCash (ZEC) back in May, as reported by Ethereum World News.

As covered in a previous Ethereum World News report, it has become clear that Gemini is dead set on expanding its product lineup, as it was just revealed that the Gemini Trust will be launching a stablecoin that was named after its popular exchange.

Since this announcement, Litecoin has performed rather well, moving from $53 to $58 in a matter of a few hours. At the time of writing, LTC is worth $57.15 a piece and is up 0.97% on the day.

Title Image Courtesy of MaxPixel
16.09.2018 / 16:20 94
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