Gemini Exchange Unveils Upcoming Support for Litecoin and Bitcoin Cash

  • Gemini tweets that they will be trading Litecoin and Bitcoin Cash soon.
  • With these additions, Gemini positions itself as one of America’s top crypto to fiat on-ramps.

Earlier this week (September 26, 2018), Gemini sent a tweet announcing they when the US exchange will be trading Litecoin (LTC) and Bitcoin Cash (BCH).

Although Coinbase already allows users to buy and sell LTC and BCH for USD, this new market will add further liquidity to these altcoins. Currently Bitfinex and Coinbase account for around 80% of BCH USD trading volume so a Gemini will be a welcome regulated competitor.

CryptoCompare Bitcoin Cash Exchange VolumesSource: CryptoCompare

This announcement comes hot off the tails of Gemini’s ZCash listing, which made Gemini the first licensed ZCash exchange in the world.

This tweet shows Gemini’s commitment to transparency regarding new coin listings. Since late 2017, there has been controversy surrounding cryptocurrency listings on major exchanges.

When Coinbase started trading Bitcoin Cash, it was widely alleged that there was insider trading. Coinbase did not announce when BCH trading would begin, so the listing of BCH took traders completely by surprise, causing prices to spike briefly before trading was halted.

Just three days after BCH was listed on Coinbase, the price plummeted from a high of $4,290 all the way down to $1,550. After this event, exchanges have been much more transparent about their listing process.

Gemini Exchange

Created in 2015, Gemini is the crypto exchange founded and owned by the Winklevoss twins. Famous for their role in the creation of Facebook, the Winklevoss twins have been an instrumental part of Bitcoin’s growth.

Gemini currently lists BTC, ETH, & ZEC, and allows USD trading against all of these coins. Coinbase’s daily trading volume is more than ten times Gemini’s. The addition of Litecoin and Bitcoin Cash could bring more users to Gemini’s website.

Both Coinbase and Gemini hold the controversial New York BitLicense. Launched in 2014, this license is issued by the New York State Department of Financial Services, and allows companies to buy, sell, and trade cryptocurrencies for their customers.

When the BitLicense legislation was announced, many crypto companies discontinued supporting New York customers, in order to avoid New York’s extensive regulations. At the time of this writing, there are only nine companies holding BitLicenses.

OKEx, Skew Release 10 New Trading Data Charts as Partnership Evolves

Popular cryptocurrency exchange OKEx and crypto market derivatives data aggregator Skew have unveiled plans for the second phase of their partnership, release 10 new trading data charts as it evolves.

According to a press release published by OKEx the exchanges was the first one to share data from its futures and options markets through its own dashboard on Skew. The second phase of the collaboration between both organizations will add 10 new advanced charts with “even more in-depth metrics available to them.”

The second phase of the partnership between OKEx and Skew is set to bring various new features, among them the new charts. These include charts such as the BTC futures Aggregated Open Interest, the BTC Perpetual Swap Price vs Spot, and the BTC Options Volumes & Open Interest, among others.

chart.pngSource: OKEx

The new charts come shortly after OKEx expanded its derivatives portfolio with the launch of ETH/USD options on its platform, and with the announcement of EOS/USD options. The cryptocurrency exchange has been leading when it comes to derivatives trading volumes, thanks to perpetual swaps for top cryptoassets like BTC, ETH, and others.

In its announcement, OKEx claims the diversity it offers is appealing to institutional and professional traders who can keep their pricing strategies more flexible. Its main goal, it adds, is to make products “accessible to a wider audience of retail – as well as beginner – traders.” To do this, it invests resources in its Academy.

To bolster the partnership, the cryptocurrency exchange prepared a guide to highlight and explain how to read and analyze the new charts. OKEx’s Director of Financial Markets, Lennix Lai, commented:

We hope to provide even greater transparency for users through this second phase with Skew. That also means helping traders understand how to interpret sometimes complex charts and how to use the information to execute better trades.

Lai added that the guide will help users read and interpret the charts, as they can be “daunting at first and are typically left for advanced users.” As CryptoGlobe reported, last month OKEx announced an OKChain hackathon to boost the development of decentralized applications for its blockchain.

Featured image via Pixabay.