For quite some time now, there has been speculation as to when Bitstamp will add Litecoin support. Having multiple exchanges support LTC greatly improves liquidity. It remains to be seen if this will have a positive impact on the Litecoin price, though. It now appears Bitstamp will add Litecoin during the upcoming week. That is great news for all Litecoin supporters, to say the least.
Bitstamp Confirms Litecoin Integration
It is good to see Bitstamp come through for Litecoin . Having such a major exchange support LTC is a significant vote of confidence. This may not necessarily improve demand for LTC right away, though. However, it will enable additional fiat currency gateway for Litecoin, which is never a bad thing. Bitstamp is one of the biggest exchanges in the Western world, after all.
Now that the team confirmed Litecoin will be added in the upcoming week, things are looking promising for Litecoin. A lot of people feel this news will push the LTC value higher. It is hard to tell if that will be the case, though. Exchanges adding currencies is not the major news it used to be a few years ago. Then again, Bitstamp is considered to be one of the elite exchanges for cryptocurrency trading. It is possible this addition will have some form of positive impact on the price.
Quite a few exchanges have added support for Litecoin over the past few months. Ever since Segregated Witness got activated on the network, there has been renewed interest in this project. However, the price momentum died down rather quickly. That being said, the LTC value went from US$4 to a stable US$27, which is still a nice improvement. Anyone expecting Litecoin to shoot up to US$100 will have to wait some time before that happens, to say the least.
In the end, Bitstamp is trying to improve their market position. The platform enabled XRP support some time ago, and they will do the same for Litecoin soon. It is a positive development, all things considered. More people will be able to buy Litecoin with fiat, without having to go through Bitcoin first. It is an appealing solution, although the market demand has yet to be determined. The Litecoin community seems happy about the news, though.
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