Litecoin (LTC) Upgrade Spells Doom For Asset, Major Exchanges Withdraw Support
The discontinuation of Upbit’s support for Litecoin (LTC), brought about mixed reactions for the Twitter space earlier today. The South Korean cryptocurrency exchange platform published their delisting of LTC earlier on their website.
Upbit claim action is for investor’s protection
In the report on twitter, by crypto journalist; Colin Wu, the reason for the decision by the exchange platform was because the MWEB (MimbleWimble Extension Blocks) upgrade of Litecoin added an anonymous transmission technology;
More information divulge that a request was made by Upbit to The Litecoin foundation to explain why an anomity feature is now in their transactional options. According to the publication on upbit’s website, their termination of support for the altcoin came after rigorous review of the reply LTC labs gave to their request.
On the 20th of June, Upbit will be terminating all orders to trade LTC that have been requested before said date, as that is the official date for the termination of all market support.
Market expresses split sentiments
Cryptocurrency holders and enthusiasts have taken to twitter to express their respective dilemmas. In a tweet made in reply to the news, a user declared the news was unfortunate and forecasted more delisting, while others empathised with Litecoin.
Litecoin seemed to have weathered a lot of storms since its big break in 2022/21. However, with the recent happenings dipping and now the delisting from one of the top crypto exchange platforms, enthusiasts and potential investors can’t help but wonder if Litecoin is a valuable coin to hold.
From the records of increasing transactions they announced on Twitter on 6th June, coupled with the positive forecast from trading beasts, Litecoin may be selling the idea to invest in the coin. However, the recent dissociation from Upbit might just put a strain on the pricing and discourage investors from trading the coin.
Litecoin (LTC), founded in 2011 by Google programmer; Charlie Lee, is one of the longest standing digital assets in the crypto market.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.