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.

Crypto Market Update: Focus on BTC, ETH, BCH, BNB, XMR, and DASH

Siamak Masnavi

This article provides a quick overview of how the crypto markets have been doing—with the focus on Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Binance Coin (BNB), Monero (XMR), and Dash (DASH)—over the past 24-hour period.

Overall, September 17th is proving to be a bit of a mixed day, with 12 of the top 20 cryptocurrencies (by market cap) in the red at press time (around 06:25 UTC).

BTC-USD

BTC-USD 24 Hour Chart - 17 Sep 2019.png

The bad news is that are still waiting for the launch of Bakkt's physically-delivered daily and monthly Bitcoin futures contracts. So, Bitcoin is still trading mostly sideways, hovering around the $10,300 mark. The good news is that the launch is expected to take place in less than one week (i.e. on September 23), as was confirmed by this tweet that Bakkt sent out on September 16:

ETH-USD

ETH-USD 24 Hour Chart - 17 Sep 2019.png

The Ether (ETH) price continues its upward movement toward the $200 mark, up another 2.24% in the past 24-hour period (making it up 4.32% in the past 7-day period). What may have helped the Bitcoin price yesterday (September 16) is the announcement by crypto payment processor BitPay that in the near future it will be possible for its customers to accept Ether payments for purchases of goods and services. Also, the BitPay wallet will support Ether.

Ethereum co-founder Vitalik Buterin had this to say about the news:

"It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real world use cases for cryptocurrencies.

BCH-USD

BCH-USD 24 Hour Chart - 17 Sep 2019.png

On Monday (September 16), Bitcoin.com announced that it had entered into a strategic partnership with Taiwanese smartphone manufacturer HTC, as a result of which the Bitcoin.com wallet will come preinstalled on HTC's current and upcoming blockchain phones (Exodus 1 and Exodus 1s):

BNB-USD

BNB-USD 24 Hour Chart - 17 Sep 2019.png

Although BNB is currently in the red, this may change during the next several hours once all of the six mini announcements that Binance plans to make today have come out:

The first of the six announcements that Binance CEO Changpeng Zhao (aka "CZ") referred to is the addition of support for Cosmos (ATOM) to Binance's Margin Trading platform:

XMD-USD

XMR-USD 24 Hour Chart - 17 Sep 2019.png

OKEx Korea announced on Monday (September 16) that it intends to delist all five privacy coins it is currently supporting, i.e. XMR, DASH, ZEC, ZEN, and SBTC, due to concerns that these cryptocurrencies do not allow it to implement FATF's so-called "travel rule". 10 October 2019 is the date on which transaction (i.e. trading) support ends.

DASH-USD

DASH-USD 24 Hour Chart - 17 Sep 2019.png

Since OKEx Korea's delisting announcement mentioned DASH, you would expect it to be down today, just like XMR. However, it is not, and that is very likely due to the fact that today (September 17) is the day that trading in DASH is expected to start on Coinbase Pro on/after 09:00 PST (16:00 UTC) provided that there is sufficient liquidity.

Featured Image Court: Photo via Pixabay.com