Gemini Is About To Add Litecoin Support, And LTC Price Goes Up
Lee wants people to focus on adoption and technology
CNBC’s Brian Kelly asked Lee about what he wants the event’s attendees to take away from the Summit, and the answer was more than satisfying.
— CNBC's Fast Money (@CNBCFastMoney) August 27, 2018
“I would like for people to focus on the technology, adoption, merchant adoption and also how to scale. So things like the Lightning network, sidechains, and things that would help Bitcoin and Litecoin scale…” Lee said.
“And I think with the price currently depressed, it’s a good time for people to sit down and have their head down and actually working to get stuff done,” he continued.
The event has passed, and if we look back in order to see what happened there and what are the most important developments and revelations, there’s plenty to digest.
Gemini will add LTC support
Probably the most important announcement from the Summit was the fact that Gemini, the New York-based startup headed by the famous Winklevoss brothers will add LTC support shortly, on October 15, this year.
This is the development that Lee was alluding to during the interview that we mentioned above.
LIVE from the @LTCFoundation Litecoin Summit, "We are pleased to announce Gemini will be launching Litecoin support starting October 13th, 2018!” –@eric_winer #LTCSF18 #tothemoon pic.twitter.com/TqTjJjk7q4
— Gemini (@Gemini) September 14, 2018
The great news was revealed at the event last Friday by Eric Winer, the exchange’s Vice President of Engineering.
This integration was seen to be on its way by lots of voices in the cryptosphere, especially due to the fact that the Winklevoss-backed exchange got regulatory approval from the New York Department of Financial Services to list BCH, LTC, and ZCash. This was reported back in May.
All these show that Gemini is set to expand its product lineup and the latest announcement stating that the Gemini Trust will launch a stablecoin that will be named after the exchange only comes to support this claim.
At the moment, Litecoin (LTC) is trading in the green at $6,489.14 on Coinmarketcap.
Ex-Google engineer, Charlie Lee is the creator of Litecoin and MD of the Litecoin Foundation. Previously Director of Engineering at Coinbase, Lee now focuses full-time on Litecoin. To enhance fungibility and privacy of LTC, integration of MimbleWimble has begun, however Lee has recently announced a crowdfunding launch to fund the development.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.