Getting listed on Gemini was a huge boost to Litecoin. Gemini is one of the most regulated exchanges in the world, and listing Litecoin, sends a signal of long-term potential. And by being listed on Gemini, Litecoin becomes the 3rd cryptocurrency to be listed on every major exchange in the world.
According to Charlie Lee, it was his mission to get Litecoin listed on every major exchange. He tweeted,
Currently, only two other cryptocurrencies are listed on every major exchange: Bitcoin and Ethereum. Bitcoin being the obvious choice to start with, and Ethereum due to it’s potential to raise money through smart contract have both become investors choice and demand a huge amount of liquidity.
One of the biggest determining factors for any cryptocurrency is the number of exchanges that have listed it. The number of exchanges is directly correlated with the price increase of any cryptocurrency. That is why many exchanges charge a premium to list tokens.
Litecoin is the 7th largest cryptocurrency in the world. The cryptocurrency has a market capitalization of $3 billion. The codebase being similar to Bitcoin’s and ease of mining has made Litecoin an easy choice for exchanges looking to list a new token.
Additionally, over nine payment processors support Litecoin. Some of them are Aliant Payment, BTCPay, Coinbase, CoinGate, CoinPayments, Globee, GoCoin LTCPay, and TravelbyBit.
Who becomes the 4th?
The battle is now between Bitcoin Cash (BCH) and XRP to be the 4th currency to be listed on every major cryptocurrency exchange. Bitcoin Cash has a clear upper hand due to having an open source nature and codebase being similar to Bitcoin (BTC).
Major exchanges such as Coinbase and Gemini have officially stated that they do not want to list XRP due to its closed nature. But Investors believe XRP is more valuable than Bitcoin Cash (BCH), a fact evident by XRP’s market cap.
XRP has a market cap of $18 billion and is the 3rd largest cryptocurrency in the world. Bitcoin Cash, on the other hand, has a market cap of $7.7 billion and is at the 4th position. Coinbase, the largest exchange in the US, supports Bitcoin Cash but does not support XRP, but the newly launched custody service by Coinbase will support XRP.
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