Today could shape up to be an interesting day for a fair few cryptocurrencies. One of the more interesting markets right now is Litecoin, even though its overall gains are anything but spectacular. That is not necessarily a bad thing either, but there are some developments behind the scenes to keep an eye on.
Litecoin Price is on the Move
There are always interesting developments taking place in the world of cryptocurrency. Especially altcoins tend to do things a bit different compared to Bitcoin itself, even though the gains are not exactly too amazing right now. For Litecoin, the momentum is finally turning around, albeit in far less spectacular fashion than some traders would like to see.
Over the past 24 hours, the Litecoin price has received a 2% nudge in the right direction. Given how boring things look across most other markets, it is a bit unclear if this is a sign of things to come or perhaps a temporarily blip on the radar. Even so, the current gain on Bitcoin of 2.5% offers some sign of hope, albeit it remains to be seen how long these gains can remain in place. An overall increase in trading volume seems to hint at interesting things to come over the weekend.
Speaking of the Litecoin trading volume, it seems Pattern Capital Management is keeping a close eye on the LTC trading markets right now. They claim there is a volume spike taking place right now, which seems to coincide with this current LTC value increase. Over $215m in trading volume during the first day of the weekend is not bad by any means, especially for LTC.
$LTC volume spike. 420 coin print at $53.05. $LTCUSD #LTCUSD #LTC #Litecoin #coinbase #gdax
— Pattern Capital Management (@pattern_crypto) October 13, 2018
There are also a lot of people who are still celebrating Litecoin’s seventh birthday. It is a very important milestone for the silver to Bitcoin’s gold, as a lot of altcoin projects tend to disappear prior to even reaching the one-year mark. Litecoin, while not necessarily known for its innovative developments over the years, remains one of the more robust projects on the market today. It will undoubtedly be around for a few more years, at the least.
Happy 7th Anniversary #Litecoin
🎂🎊🎉@SatoshiLite @litecoin pic.twitter.com/iXIZjiA38C
— elvys 🚀 (@ElvysJoanes) October 13, 2018
The biggest news of the week comes in the form of the Gemini exchange finally listing Litecoin. This news has been coming for a while now, as Charlie Lee hinted at such a development several months ago. A lot of people took that as a joke, yet it seems the exchange has come true in the end. An interesting development, as trading will commence as of next Tuesday.
We are pleased to announce that @litecoin (LTC) is now available on Gemini! Starting tomorrow, we will begin accepting Litecoin deposits, and trading will open across all currency pairs on Tuesday. For more information, please visit our blog on @Medium https://t.co/it5xuF9Hr5
— Gemini (@GeminiTrust) October 12, 2018
Even though the Litecoin price momentum is still in the early stages of shaping up, it will be interesting to see how things evolve in this particular regard. Weekends are usually quite odd for cryptocurrency trading as a whole, primarily because of the lack of fiat currency trading volume. At the same time, it can lead to some interesting developments, although it is difficult to predict where the Litecoin value will head over the coming 48 hours.