A price hike for Litecoin LTC after Korbit listing
South Korea’s largest Bitcoin exchange, Korbit, will include Litecoin LTC trading on its platform from April 18th.
Korbit is integrating an LTC wallet, and multi-trading on the site will remain the same.
Withdrawals will be on hold until April 19th until the LTC wallet integration is complete, however.
Three types of wallet addresses will be available: L-address, 3-address, and M-address.
Korbit is the oldest cryptocurrency exchange in South Korea and currently supports Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Bitcoin Cash [BCH], Bitcoin Gold [BTG], and Ethereum Classic [ETC].
It is also the country’s largest Bitcoin exchange platform by trading volume.
Litecoin is enjoying a welcome boost following the listing announcement.
Currently the fifth most valuable cryptocurrency, Litecoin LTC is trading at around $135 at the time of press.
This value is up roughly five percent in the last 24 hours while the other top five cryptos remain steady.
The prices of Litecoin have been maintaining stability recently, with a slower recovery than Bitcoin and Ethereum.
Although Litecoin is already available on several crypto exchanges, new listing will undoubtedly give it a boost.
Litecoin’s founder Charlie Lee is adding an incentive to traders to help promote the launch.
Lee promises he will personally send Litecoin to the platform’s top traders in the first week of trading.
Tomorrow, @KorbitBTC will launch LTC trading. It's awesome that one of the oldest Korean exchanges will now support Litecoin. I still remember asking Korbit many years ago. 😀
I have donated 100 LTC for a promotion. See blog post for more details. 🚀https://t.co/f2H4HoJm9p
— Charlie Lee [LTC] (@SatoshiLite) April 17, 2018
The number one ranked trader will receive 50 LTC, according to Korbit’s official blog.
Rank 2 will receive 25, third place will receive ten, and rank 4-6 will collect five coins each.
The offer is only available to those trading from South Korean Won (KRW), however.
Charlie Lee said on Twitter:
“Tomorrow, Korbit will launch LTC trading. It’s awesome that one of the oldest Korean exchanges will now support Litecoin. I still remember asking Korbit many years ago. I have donated 100 LTC for a promotion”
One user, Ben Ten, replied to Charlie Lee’s tweet voicing concerns about the offer saying:
“Good stuff Charlie. I don’t think the 100 LTC promo is a good idea though it lends validity to the scammer’s appeals”
Another Twitter user, James Jung, said the listing is a positive signal for Litecoin:
“This is fantastic news. Korean exchanges DO NOT list any new crypto for no reason. They know something, and they smell something”