Winklevoss-founded crypto exchange Gemini is adding litecoin trading in the coming week, with permission from the NYDFS.
New York-based Gemini is the latest exchange to offer trading of litecoin, the alternative protocol asset (altcoin) that many consider to be bitcoin’s little brother.
This development could provide tailwinds for the price of litecoin, which has benefited in the past from being listed on major exchanges like Coinbase.
The digital currency previously climbed 10% in a day following rumors that Coinbase would add the altcoin to its GDAX exchange, according to CoinDesk.
Litecoin (LTC) Price Today – LTC / USD
Gemini Launches Litecoin Trading Pairs, Postpones Bitcoin Cash Listing
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.