Litecoin crazy price jump: what stands behind?

At the moment of press, average Litecoin price exceeded $240 mark
12 December 2017   818

For last 24 hours "digital silver" gained around 50% and is traded ~ $240.

Litecoin Charts
Litecoin Charts

Litecoin is on the 5th place at Coinmarketcap cryptocurrency rate. LTC was able to "push" Ripple from its place. 

These are the main market parameters at the moment of press:

  • Average price: $240.68
  • Marketcap: $13 060 875 216
  • 24h volume: $4 531 250 000

Charlie Lee, the creator of Litecoin noted that LTC is the most tradable coin at GDAX.

What stands behind such a big jump? Let's try to figure out. 

The growth of the crypto currency was promoted by the announcement of the popular Bitrefill mobile phone replenishment service that Litecoin has become the second native currency of the platform after bitcoin.

Moreover, in addition to replenishment of cellphone accounts, Bitrefill now offers LTC (as well as BTC) option to purchase vouchers of the largest gaming platform Steam.

Also, another theory explains the growth of lightcoin suggests that users of the Bitfinex exchange, who had problems with the withdrawal of bitcoins and ethers from their exchange accounts, converted them into LTC for output. This spurred the demand for lightcoin first on Bitfinex, and then on other exchanges.

European Crypto Exchanges Launch P2P Platforms

Two crypto exchanges from announced plans to offer peer-to-peer cryptocurrency trading  
16 February 2018   120

The first exchange is Latvia-based Hodlhodl which launched in beta-mode its new P2P platform. The second one is Bulgarian which is developing its own service that may replace the fiat medium with a token.

The Hodlhodl launched a beta version of its new platform designed to accommodate safe and secure peer-to-peer transactions of bitcoin and other cryptocurrencies. At the moment, users can open accounts and adjust them, and study available functionalities. Contracts are currently disabled but developers hope to complete the order book and launch them within a week.

At first, only BTC and LTC will be traded. The exchange will operate in beta-mode until July 2018 with 0% commission. After that, there will be applied a fee of max 0.6% per trade.
The P2P Bitcoin exchange will introduce contracts that will allow users to control their funds in escrow.

Hodlhodl offers support of native Bech32 Segwit addresses and P2SH-P2WSH Segwit multisig escrow addresses. The exchange services will be decentralized and no KYC or AML procedures will be applied.

The websites are available in English, in future other languages will be added. Also, it will introduce support for Lightning Network micropayments and other cryptocurrencies.

Bulgarian has also announced that it is working on a P2P platform, after facing multiple issues with the traditional financial system.

This month the exchange announced that it is planning to trade Bitcoin on a new peer-to-peer platform that is currently under development.

The new system will offer the opportunity to trade through Cryptolevs backed by a certain amount of bitcoin “locked” in a public address. Bank transfers will be made on a peer-to-peer basis and banks will not be able to tell if such transactions are bitcoin-related.