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Litecoin News

Börse Stuttgart Officially Allows Investors To Buy Litecoin And XRP

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Börse Stuttgart
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Börse Stuttgart, the second largest stock exchange in Germany has approved the listing for XRP and Litecoin exchange-traded notes (ETNs). In the latest cryptocurrency news, we can see that the ninth largest stock exchange in Europe kept its promise to launch crypto trading services.

The Börse Stuttgart team stated:

 “For the first time in Germany, investors can now buy and sell exchange-traded notes (ETNs) based on the cryptocurrencies Litecoin and Ripple (XRP). The four securities issued by XBT Provider in Sweden track the price of the two cryptocurrencies in relation to the euro and the Swedish krona.’’

ETNs are similar to the exchange-traded funds but they operate as strictly regulated and transparent instruments that can serve investors when investing in various assets. The launch of the crypto-backed ETHs on Börse Stuttgart aims to increase the liquidity of Litecoin and XRP, especially in high-profile investors and institutions.

Crypto exchanges could be compelling for a lot of first-time users and individuals due to their liquidity and ease of access. However, for some, the lack of better protection still remains an obstacle. As it was previously mentioned in the altcoin news, back in 2017 during Vanity Fair New Establishment Summit in Los Angeles, Mark Cuban stated that he invested in Bitcoin through an ETN by saying:

‘’It is interesting because there are a lot of assets which their value is just based on supply and demand. Most stocks, there is no intrinsic value because you have no true ownership rights and no voting rights. You just have the ability to buy and sell those stocks. Bitcoin is the same thing. Its value is based on supply demand. I have bought some through an ETN based on a Swedish exchange.’’

The Director Blue Chips and Funds Trading at Börse Stuttgart Jurgen Dietrich pointed out:

‘’There is a lot of interest in cryptocurrencies. These [litecoin and XRP] ETNs will allow investors in Germany to track future price developments of the two cryptocurrencies Litecoin und Ripple (XRP) through exchange-traded securities for the first time.’’

The potential increased demand for Litecoin ETN in Germany is still uncertain and there is little knowledge on whether it could impact the state of the exchange market. During the developer activity and rising value, the quality of liquidity for the cryptocurrency only adds to its momentum.

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Litecoin News

Litecoin Foundation Pitches Opt-in MimbleWimble Via Extension Blocks

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The Litecoin Foundation recently published two new draft Litecoin Improvement Proposals which are now featured in the crypto news - and are best described as improvements that work towards establishing privacy features for the network.On October 22, the Foundation shared links to the details of the draft proposals on GitHub with LIP-0002 EB and LIP-0003 MW being in the focus. As the Foundation said in the recent Litecoin news now, both of the proposals are targeted at mitigating the privacy risks which are linked with a transparent ledger. The transaction history, on the other hand, can be publicly traced, the Litecoin Foundation said.The authors of this proposal include Andrew Yang, David Burkett and Charlie Lee. All of them argue that this transparency hinders Litecoin and its "functional fungibility in a government-regulated merchant world." The Litecoin Foundation also disclosed the following in the proposals:
“Personal identifiable information collected from IP address, exchanges, or merchants can be leaked then tied to your addresses. Also services, such as chain analysis, provide risk-scores based on whether or not any addresses that they have blacklisted appear in its transactional history. This results in some businesses treating these coins as ‘tainted’ and then sending them back to the owner, or worse yet, shutting down their account.”
In order to solve this problem, the main goal for the Litecoin Foundation is to work on the integration of the scalability and privacy-focused MimbleWimble protocol - which was named after a fictional tongue-tying curse from the popular Harry Potter novels.In detail, MimbleWimble is a variant of the cryptographic protocol known as Confidential Transactions, allowing for transactions to be obfuscated yet verifiable so as to achieve privacy and the prevention of double spending.As the Litecoin Foundation noted, the proposals envision implementing MimbleWimble as an opt-in new transaction format through the "extension blocks" (EBs). These EBs will run alongside the main canonical blocks, at the same intervals (2.5 minutes on average).The documents also outline the functioning of the opt-in integration and the effects that it has for transaction privacy. They also show how the proposals tackle the interaction between coins in the EBs and the canonical blockchain.
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Litecoin News

Litecoin Founder Denies Bankruptcy FUD During LTC Eight B-Day

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Litecoin founder has denied the FUD about the bankruptcy of the altcoin just when LTC turned eight years old. The cryptocurrency was launched in October 2011 and has stood the test of time as we are constantly reading about in the Litecoin news.Lately, there has been a lot of FUD over the crypto asset and most of it is quite unnecessary. The market clearly is not big enough to support even a fraction of the 3,000 coins and tokens that are listed on the online platforms. One of the best ways to find out which ones have the mettle is to look at those who have passed the test of time. The historical data from CoinMarketCap does not even go that back in time when LTC spawned and you can only see the data from 2013. Back then, just seven cryptocurrencies were listed and today only two of them exist in the top 300 including Litecoin and Bitcoin.The Litecoin founder, Charlie Lee celebrated the achievements that this cryptocurrency made with a birthday tweet for the world’s sixth-largest crypto asset. The network of the asset has been up and running continuously over the past eight years with zero downtime and during that time more than 500,000,000,000 worth of LTC has been transacted. Most of the mudslinging about this crypto asset followed after a tweet when many investors remembered how Lee sold out at the peak when Litecoin topped $350 almost two years ago.There were also some rumors about bankruptcy following the media FUD storm that targeted the project as we outlined in the crypto news and the Litecoin founder denies the rumors by saying:
‘’It’s not near bankruptcy. Don’t listen to stupid fud and lies. We have enough money to last 2 years.’’
Litecoin failed to hold on to its gains this year but almost every other altcoin had the same problem so FUD is not something to worry about. since the start of the year, LTC gained 88 percent to its current levels despite the massive 60 percent correction from the high of $145. The charts show that most of the altcoins are still moving and are syncing and despite the fact that LTC reached a death cross in August, the downtrend intensified and will hardly recover until bitcoin starts heading north again. LTC has been consolidating around the $55 level over the past 14 days but is still in a steep downtrend since the end of June.
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Litecoin News

Litecoin Price Surge May Initiate A Bull Run For Altcoins

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The Litecoin news today show that LTC is dealing with the bears. The day is expected to close with the positive price change for the cryptocurrency. According to analysts, a Litecoin price surge soon could be the breaking point of a new bull run.After recording a remarkable movement in the first two quarters, Litecoin (LTC) created a heavy market pressure in the last quarter, where we saw the price of this cryptocurrency falling tremendously. The traders supporting LTC are still hopeful for the uptrend in the coin, the latest crypto news show.Yesterday, Litecoin was trading at $58.24 high and $56 low. The volume was around $2.44 billion. Today, we can see that LTC held onto its lower side and is at $56.30 with a 0.64% decline on the day. In order for us to see a Litecoin price surge soon, LTC must recover and initiate a bull run by going over $60.What's good is the fact that Litecoin has a strong reputation on the market and its price movement has always been impressive for the traders. The coin is counted among the result-yielding currencies because of the same thing. Also, traders anticipate Litecoin giving Bitcoin a tough competition in the future.According to the price counters, the resistance and support levels for LTC are as following:
ResistancePriceSupportPrice
R1$57.69S1$55.45
R2$59.09S2$54.61
R3$59.93S3$53.21
In other words, a Litecoin price surge is expected to give out a huge dividend to the long-term traders - something they have been expecting for a while now. The potential investors can also dig in with a high prospect of return.Considering the fact that the Litecoin news did not show a lot of exciting uptrends over the past month, an upcoming surge might change all of that. As it stands, the market is not in a good position to trigger a bullish run for all cryptocurrencies - especially not Bitcoin - but altcoins may rally and do the unexpected.In a scenario like that, traders expect altcoins to replace Bitcoin and initiate a Litecoin price surge and bullish run which will come with increased volume and a market cap that is far greater than today's one which stands at $224.8 billion.
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Litecoin News

Crypto Rating Council Rates Litecoin With 1: LTC Not A Security

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Crypto Rating Council
The Crypto Rating Council which was formed just a while ago released the first batch of the 20 digital asset ratings. According to the latest crypto news we can see that the council declared Litecoin is not a security and we are about to read further in the text below.The Crypto Rating Council consists of 8 large companies including Kraken, Bittrex, Coinbase, Greyscale, Circle, Genesis, Cumberland and Anchorage. The group was founded due to their shared idea and commitment to improving the growth and maturation of crypto markets and the related financial infrastructure and trading services:
‘’We formed the Crypto Rating Council to create a framework to consistently and objectively assess whether any given crypto asset has characteristics that make it more or less likely to be classified as a security under the U.S. federal securities laws.’’
The assets were ranked from 1-5 with 1 being defined as an asset that has few or no characteristics of a security and 5 as an asset which has many characteristics strongly consistent as securities. The CRC was clear that its verdict is not definitive in nature and has not received the endorsement from the Securities and Exchange Commission or any other government body. According to their website, we can read that:
‘’The CRC’s analytical framework is based on relevant law and statements from SEC Staff relating to digital assets, including the SEC’s Framework for Investment Contract of Digital Assets. Neither the scores nor our framework constitutes an exhaustive treatment of the legal and regulatory issues relevant to conducting an analysis of whether a product is a security.’’
The CRC found that Litecoin, Bitcoin and Monero are not securities and achieved a score of 1. This is something that many of the users have already suspected. The council’s notes attached to these assets explained the absence of any token sale as well as decentralized development and usage. The Securities usually represent the ownership position in a company or corporation which is something that comes with a whole host of further regulations that should protect the investors as we found out in the Litecoin news. If the SEC agrees with the CRC, a lot of other projects will see a risk having committed securities fraud.
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