Nasdaq backs Litecoin: The Nasdaq exchange, one of the largest exchanges in the United States, has announced its support for several cryptocurrencies. One of these cryptos is Litecoin (LTC), making the latest in Litecoin news.
Nasdaq Backs Litecoin (LTC)
Crypto exchanges appear to be profiting and the Nasdaq exchange no doubt wants in. The exchange would be smart not to miss out on the opportunity of catching the newer investors looking for cryptocurrencies.
Once the Nasdaq exchange had decided it wanted a way into crypto, it had to choose which cryptocurrencies it wanted to back. The Nasdaq CEO has shown herself to be a friend of cryptocurrency, believing them to be the “right next step in the space of currency.”
Nasdaq selected Litecoin as one of the few coins it believed in. The exchange commented that it believes Litecoin holds potential. This is partially due to the Blocknet announcement from several weeks ago that stated Litecoin is now compatible with Blocknet. This means that Litecion has the ability for cross-chain operations, something which may mean growth for the coin.
Litecoin is also in the good books with Nasdaq due to its short transaction times and low transaction fees. The fact that Litecoin is starting to be accepted by many merchants doesn’t hurt either.
Nasdaq isn’t just backing Litecoin, though. The other cryptocurrencies the exchange believes in are Stellar, for its growth potential from partnerships like IBM, and Bitcoin, because, well, Bitcoin.
Do you agree with Nasdaq’s choices, or would you have selected other coins to back?
>> Nasdaq Announces It Might Begin Trading Cryptocurrencies
Litecoin (LTC) is currently selling for $120.22, which puts the coin up 5.05% in the past 24 hours.
Litecoin’s price was pretty stable for several hours of the day, until a couple of hours ago when the coin’s price jumped from $114.31 to $120.62.
>> Read more Litecoin News: More Litecoin (LTC) Payments Made Possible Through iPayment Inc.
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