Wednesday, February 24, 2021

Litecoin (LTC) Now Live On Ethereum-Based Crypto Exchange, LocalCryptos

The Bitcoin and Ethereum peer-to-peer (P2P) trading platform, LocalCryptos, has announced that the trading of Litecoin (LTC) is now live on its crypto exchange.

The users of the exchange can now buy and sell Litecoin (LTC) free of charge until 8th July 2020, as a means to celebrate the listing of the seventh-largest cryptocurrency on the trading platform.

LocalCryptos used to be called LocalEthereum before a needed rebranding changed its official name in 2019. At the moment, LocalCryptos is the 10th largest exchange powered by Ethereum.

In November 2019, the Ethereum-based cryptocurrency exchange added support for the first and largest digital currency, Bitcoin (BTC), after its official change of name.

The addition of Litecoin (LTC) implies that the exchange is determined to keep up its quest for expansion in the cryptocurrency ecosystem.

How the Listing of Litecoin (LTC) Played Out

Sometimes in February 2020, LocalCryptos came up with a community vote that will give its users a means to determine which digital asset would be the next to go live on its trading platform.

Among the options of digital currencies shared with its users were Dash, EOS, and Litecoin. The exchange now decided to list LTC after coming on top.

The exchange believes that the similarities between Bitcoin (BTC) and Litecoin (LTC) will make the addition easy:

“Because Bitcoin and Litecoin are so similar, we can port our non-custodial BTC escrow script to Litecoin without any major changes.”

The exchange further stated that “LTC escrows on LocalCryptos will be on-chain P2SH transactions.”

Also, the exchange assured that their Litecoin wallets on its trading platform will be self-custodial and SegWit-enabled.

Litecoin (LTC) in the Market

Litecoin (LTC) has as well experienced necessary price resurgence, such as other top cryptocurrencies in the market.

If the digital currency continues this trend, attaining a $50 price level will be the next target. At the time of filing this report, LTC is priced at $43.83, with a 2.27% price increase in the last 24 hours.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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