Gemini Launches Litecoin Trading Pairs, Postpones Bitcoin Cash Listing

Litecoin (LTC) will be tradable on the Gemini crypto-asset exchange starting October 16, Eric Winer, VP of engineering at Gemini, announced in a Medium post. Litecoin is only the fourth crypto-asset to be listed on the highly regulated exchange, after Bitcoin, Ethereum and Zcash.

The launch was expected, as Gemini had already announced the addition last month in a twitter post.

According to the recent announcement, Gemini’s users will be able to trade the cryptocurrency against all other assets on its platform. The announcement has had a negligible impact on LTC’s price, with the coin’s value gaining about 1.5% between the announcement and press time.

Litecoin's price was barely affected Bitcoin Cash Delayed

There was, however, one unexpected announcement. Support for Bitcoin Cash (BCH), which Gemini had planned to announce today, has been postponed because of uncertainty and controversy surrounding an upcoming hard fork of the cryptocurrency.

Winer elaborated that “there has been much uncertainty lately within the Bitcoin Cash community about one or more possible hard forks arriving in mid-November. Some of those forks lack the replay protection feature that would be required for Gemini to safely support Bitcoin Cash.”

Litecoin’s creator Charlie Lee recently made waves while debating Bitcoin Cash creator Roger Ver, saying that Bitcoin and Litecoin were “not peer-to-peer.” Lee also recently claimed that Litecoin’s value was being suppressed and that it was undervalued, blaming “people/funds that are shorting LTC” as well as “groups that see Litecoin as a threat.”

Gemini, founded by the infamous Winklevoss twins, made a stir recently by announcing its own stablecoin built on the Ethereum blockchain, the Gemini Dollar. A notable function of the highly regulated and audited new stablecoin is that transactions can be halted or even reversed if law enforcement agencies direct Gemini to do so, or if Gemini suspects illicit behavior.