Charlie Lee to sell his Litecoins

Let's check how this news affected the price of "digital silver"
20 December 2017   492

The founder of the Litecoin, Charlie Lee, said that he had sold all his coins because he did not want to be accused of personally influencing the price fluctuations. The corresponding statement was made on Reddit

As Charlie writes, over the past year he has tried not to write tweets that are related to the price of crypto currency, but this in itself is quite difficult because price is a very important aspect of the growth of Litecoin.

And whenever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence.

Charlie Lee

Creator of Litecoin

He also insists that he always refrained from buying or selling LTC before or after he published important tweets. However, says Charlie Lee, there will always be doubts as to whether his actions are aimed at personal enrichment to the detriment of Litecoin's success and crypto-currency in general.

For this reason, in the past days, I have sold and donated all my LTC. Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s not stored in a physical Litecoin. (I do have a few of those as collectibles.) 

Charlie Lee

Creator of Litecoin

 At the same time, he emphasizes that he does not leave Litecoin and will continue to devote all his time to this work. He also refused to disclose the exact amount of coins sold, assuring that this amount is only a small percentage of the daily volume on the GDAX exchange (about $ 550 million) and the sale did not lead to a collapse of the market.

Litecoin Price

Let's figure out, what influence this news have on the LTC price. 

Litecoin Price Chart
Litecoin Price Chart

Litecoin lost about 8% in last 24h, but still gained about 6% for 7 days. At the moment of press, these are the main market parameters:

  • Average Price $330,37
  • 24h Volume $2 083 310 000
  • Market Cap $17 968 140 070

Cryptocurrency CFDs to be available 24/7 in Europe

European brokerage Robomarkets has made cryptocurrency-based CFDs`trading possible for its clients
20 March 2018   159

Today the list of accessible trading instruments includes popular kinds of cryptocurrency: bitcoin, bitcoin cash, dash, ethereum, ripple and litecoin. An investment company Robomarkets registered by Cyprus Securities and Exchange Commission (CYREC) has added CFDs (contracts-for-difference) for constant trading: BTC/USD, ETH/USD, BCH/UCD, DASH/USD, XRP/USD and LTC/USD. The maximum admissible leverage of these instruments is 1:5. They may be traded on such platforms as Metatrader 4, Metatrader 5, Webtrader and also on the Robomarkets`own R Trader terminals. Moreover, the clients can buy cryptocurrencies without swaps (with a leverage value of 1:1) using the R Trader platform.

Robomarkets presented the new concept to its clients and explained that in contrast with the instruments the most CFD traders are used to, cryptocurrencies can be traded 24/7 including on the weekends when fiat currency pairs, stocks and commodities are unavailable for trading operations. This factor gives the traders an opportunity to use more strategies which may take some extra time to add to the common business week.

The Robomarkets` development manager Konstantin Rashap claimed that the company keeps up with modern and cutting-edge technological solutions and would be pleased to offer its clients trading assets of new class. According to his point of view, the aim of adding cryptocurrencies to the list of 8,700 available trading instruments is not only to respond to the clients`demands, but also to improve the services`quality.

Bitcoin and ethereum trading had been firstly launched by Roboforex, the European brokerage`s international sister company in September, 2017. Besides, the Belize-licenced firm added CFDs (bitcoin cash, dash, Ripple`s XRP, litecoin) earlier this year.