The good news keeps rolling in for Litecoin right now. This popular alternative cryptocurrency finally gets the recognition it deserves. ViaBTC, who recently launched their cryptocurrency exchange, will add an LTC/CNY trading pair. This brings more liquidity for LTC, and may help push the price a bit higher as well. It is good to see so many exchanges finally enabling LTC trading.
Litecoin has been largely ignored for the better part of three and a half years. That situation came to change when Segregated Witness activated on the network. This was made possible thanks to all major mining pools coming together to support this scaling solution. SegWit will also pave the way for the Lightning Network and other technical improvements for Litecoin in the future. These are quite exciting times for all LTC holders, after all.
LTC/CNY Trading Comes to ViaBTC Later Today
ViaBTC, the newly launched Chinese cryptocurrency exchange, will enable LTC trading soon. More specifically, they will add a new LTC/CNY trading market later today. It is expected trading will start at 20:00 UTC. This is quite good news for all Litecoin holders. More specifically, Chinese traders often help push the value of a currency up with relative ease. Without the Chinese market, cryptocurrency wouldn’t be where it is right now.
Even though the Chinese markets are no longer dominating the market, they still generate a high amount of trading volume. An additional LTC/CNY trading pair can do wonders for the Litecoin value moving forward. Do keep in mind this market is not chosen randomly either. ViaBTC wants to be responsible when adding new blockchain trading varieties. Litecoin checks all of the right boxes for them right now, which is good news.
ViaBTC is not the first Chinese exchange to list LTC/CNY as a trading pair as of late. It is evident there is a large demand for Litecoin in China right now. Whether or not that will automatically result in a price increase, remains to be seen. For the time being, Litecoin is in a good place, even though some people feel it is still undervalued. It is evident good things are bound to happen for LTC sooner or later. Whether or not that will be due to VIABTC, remains to be seen.
Header image courtesy of Shutterstock