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: Ethereum (ETH), XRP, Bitcoin Cash (BCH), and Chainlink (LINK)

Siamak Masnavi

This article provides: an overview of how Ethereum (ETH), XRP, Bitcoin Cash (BCH), and Chainlink (LINK) has been doing over the past 24-hour period; a recap of interesting recent news that might have affected their prices (or might do so in the future); and recent useful observations from Crypto Twitter regarding these cryptocurrencies.

To give you a rough idea of how well the crypto markets are doing today, 13 out of the top 20 cryptoassets (by market cap) are currently in the green (against the dollar). 

All market data used for the price charts in this article was taken between 15:30 UTC and 16:00 UTC on 22 October 2019 from CryptoCompare, which also generated the price charts shown in this article.

Ethereum (ETH)

ETH-USD 24 Hour Chart - 22 Oct 2019.png

Since October 16, ETH has been trading between $170 and $180. 

Earlier today, Hudson Jameson, Community Manager at Ethereum Foundation, said on Twitter that he is not happy with Ethereum's current governance structure and asked the crypto community for suggestions on how it could be improved:

Ethereum Foundation researcher Vlad Zamfir had this say in his reply to Jameson's tweet:

XRP

XRP-USD 24 Hour Chart - 22 Oct 2019.png

Although XRP is up only slightly down, in the past 30-day period, the XRP price has risen 6.96%. 

Earlier today, Ripple announced that it had expanded its global regulatory team and opened an office in the heart of Washington, DC. Furthermore, Craig Phillips, former Counselor to the Secretary at the U.S. Treasury Department, is now part of Ripple's Board of Directors. Lastly, Ripple has become a member of the Blockchain Association, and Michelle Bond, Ripple’s Global Head of Government Relations, will be sitting on its board.

Bitcoin Cash (BCH)

BCH-USD 24 Hour Chart - 22 Oct 2019.png

On October 17, CryptoGlobe reported that Changpeng Zhao (aka "CZ"), Co-Founder and CEO of Binance, the world's largest crypto exchange by trading volume, had proposed (on the Binance community forum) the idea of listing BCH on Binance DEX, Binance's decentralized exchange platform.

In his post on the Binance community forum, CZ said that Binance was proposing to list (on Binance DEX) BCH-1FD, "a pegged token that tracks the value of the native asset of the Bitcoin Cash" to allow "Binance DEX users to trade BCH on the DEX." CZ went on to say:

BCH-1FD is backed by real BCH assets, and Binance, the largest cryptocurrency exchange, will provide conversion between BCH and BCH-1FD through deposit/withdraw. As such, there isn’t much development work in this token or any potential of conflict of interest.

Yesterday, Binance announced that Binance DEX had listed this new token (i.e. BCH-1FD) and that trading in the pair BCH/BNB had gone live. Since then, there have been 2116 transactions.

Chainlink (LINK)

LINK-USD 24 Hour Chart - 22 Oct 2019.png

Chainlink continues having a great October, going up almost 10% today (highest gainer among the top 20 cryptoassets).

Chainlink continues to impress the crypto markets with a non-stop flow of partnership announcements; the latest one came yesterday when blockchain startup Ultrain announced via a blog post that it "will officially integrate with the Chainlink oracle network."

Chainlink's highly impressive return on investment (ROI) figures for the past seven days, 30 days, three months, and one year are +16.04%, +52.82%, +15.71%, and +607.18% respectively.

 

Featured Image Credit: Photo via Pixabay.com