London basedÂ cryptocurrency exchange, CEX.io, has decided to relist Litecoin on their platform. On 2017, CEX.io decided to remove Litecoin from their platform. According to CEX.IO, they wanted to focus completely on the booming growth of Bitcoin.
According to the official statement by Oleksandr Lutskevych, CEO of CEX.IO,“While weâve always recognised the importance of Litecoin to the crypto economy, back in 2017 we had to stop supporting it and prioritise the upgrading of our platform to respond to the growing market. Now that weâve advanced our infrastructure and our security procedures, we are ready to reintroduce Litecoin. Its addition will augment the trading experience for both retail and professional traders on CEX.IO”
For the initialÂ four weeks from the day on introduction, Litecoin can be traded at no fee. CEX.IO will initially support LTC/BTC pair and LTC/USD pair. Future expansion may possibly include LTC/EUR, LTC/GBP, LTC/RUB pair. All these fiat currencies are supported by CEX.IO.Are you ready for the new market on https://t.co/OPoleqNuJO? We have awesome news. Litecoin will be listed on https://t.co/OPoleqNuJO! Soon, youâll be able to trade LTC/BTC and LTC/USD on https://t.co/OPoleqNuJO. https://t.co/GoEvKADgt0 — CEX.IO (@cex_io) October 2, 2018
According to some people from crypto Twitter, the reason forÂ Litecoin’s removal from CEX.IO was low trade volume. CEX.IO has a relativelyÂ low volume compared to other exchanges, but it does allow fiat deposits and withdrawals.
Litecoin is currently trading at $57.55 and has a market cap of $3.375 Billion. There’s a slight dip in the daily trading volume and currently sits at $260 million from $339 million on October 6th (source: Coinmarketcap).
Get the latest news on Blockchain only on Blockmanity.com. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us se...