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Will Litecoin’s Halving Be Bearish for Its Price, but Bullish for Bitcoin?

  • Jack Thomas
    🤷 Opinions

    The run-up to the LTC halving is good for its price, but when it happens, is there a chance Bitcoin will be cashing in?

Will Litecoin’s Halving Be Bearish for Its Price, but Bullish for Bitcoin?
Cover image via www.freepik.com
Contents

Litecoin has, without a doubt, been one of the best performing coins of 2019. It began the year at $30-odd and has since tripled its price value in the first few months of this year. The coin has been to thank for the renewed positive sentiment in the cryptocurrency market.

A lot of the reason behind this is because the coin is coming up to a big milestone as it on the cusp of a difficulty mining halving, which is due to take place in August of this year. The halving will make the reward for mining Litecoin decrease and thus make the circulating amount more valuable and in demand.

However, even as Litecoin rises higher on the news of the having, there is talk that it could actually spell a bearish trend for LTC when it happens, and spark a bullish trend for BTC.

A reminder of scarcity

The reason that halvings have an effect on price is they remind people of scarcity, but well known crypto commentator Tone Vays sees things differently with Litecoin.

“In the case of Litecoin, the scarcity is not a major factor because Litecoin is unsecured inflation on top of Bitcoin.”

He went on to add that Litecoin also is in a more competitive market compared to the dominant Bitcoin. The Litecoin halving should remind the industry that the value in mining Litecoin is shrinking even more in the current market.

On the contrary, he believes that the Bitcoin halving will create opportunities for miners to find more valuable Bitcoins.

Litecoin is easily replaceable, so investing a lot of money in Litecoin mining infrastructure only to watch Litecoin disappear in the halving is a problem. Hence, halving is a major problem for Altcoins but, not necessarily for Bitcoin Vays added

Bitcoin halving approaching

Bitcoin is set to have its own halving moment in 2020, but before that, with Litecoin primed to have its time first, it will be interesting if the old adage of ‘buy the rumour, sell the news’ comes true.

The Litecoin price is rising now, but when the halving happens, it may well end the bullish run and take that momentum to something bigger than LTC, like the dominant BTC.

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About the author

Jack Thomas is a journalist from Australia who has had a long career writing about finance and technology. He has combined his enthusiasm for these two subjects and applied his writing to covering blockchain and cryptocurrencies in the past few years.

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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com
Contents

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

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Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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