Bitstamp Adds Support for Litecoin Trading

Announcements, FinTech, Investing | June 21, 2017 By:

Regulated European bitcoin exchange Bitstamp has added support for Litecoin trading on its platform. LTC is now paired with BTC, EUR and USD.

Bitstamp has partnered with BitGo to implement a multisig Litecoin wallet. The company is also working on adding LTC trading to its mobile apps.

Litecoin is trading near an all-time high, with the LTC/USD exchange just below $50, giving it a $2.6 billion market cap.

The price hike is a return to this level for Litecoin, which peaked at slightly more than $50 in 2013. That level was later discovered to be a manipulation by a bot, and it quickly deflated. Litecoin had been trading at about $4, then suddenly climbed when it announced that it was activating SegWit on its network in March.

The activation of Segregated Witness may pave the way for the introduction of new technologies such as the Lightning Network, which expands the potential of what can be achieved on the Litecoin network.

In a blog post, Bitstamp said that SegWit and client demands are the reason why it is adding Litecoin support.

“With Litecoin being the first major blockchain to pass the Segregated Witness technical upgrade, we decided it was time to enable Litecoin here at Bitstamp and to start exploring the possibilities the Lightning Network offers. It is for these reasons, and the frequent requests we have received from our customers to introduce LTC trading, that made it the standout choice.”