Litecoin (LTC): Getting a Boost from New Asian Listing
Litecoin is already established on exchanges, but increased popularity will only help the asset in 2018.
Litecoin (LTC) is one of the relatively stable assets, boosted by robust trading volumes and an ability to keep price levels steady even in large-scale sell-offs. Now, Korbit, one of the oldest Korean exchanges, will list LTC:
The price of LTC was having a small recovery, growing to $136.55, up around 6% in the past 24 hours. However, the crypto community believes the Korbit exchange would be a minor addition. LTC pairings are a part of almost all exchanges, with no single exchange commanding the majority of volumes. The biggest price effect for Litecoin, however, has been GDAX and the listing on Coinbase, which has a fiat on-ramp for US-based buyers.
In the past weeks, LTC has preserved its positions in terms of Bitcoin prices, entering another stage where the price is stable, without major spikes or lows. At this point, LTC does not even react to news with that much price action. LTC may still be used as an asset to transfer funds between exchanges.
Additionally, the LTC digital asset also has a small-scale, functioning Lightning Network, which is not as popular as the Bitcoin Lightning Network. On-chain settlement is still relatively cheap for Litecoin.
The Litecoin community, however, is still exhibiting skepticism even on good news, after the recent fallout with the LitePay startup, which did not deliver the required results.
In the coming weeks, the Abra trading app is expected to increase its Litecoin support, by adding a funding option. The Abra app, however, uses smart contracts based on the Litecoin network, to achieve the storage of digital assets. Abra does not perform on-chain transactions, but instead uses synthetic digital assets, which represent actual coins stored by a smart contract.
The Abra team shared on Reddit it would be able to add full support for Litecoin in late April or early May.