Litecoin Is Listed On SFOX, Move Signals Its Acceptance By Institutional Investors - Litecoin (LTC) News. Friday, September 28
Litecoin Is Listed On SFOX, Move Signals Its Acceptance By Institutional Investors
SFOX announced on September 27 that they were listing Litecoin on their platform. This would see the digital asset trading on multiple exchanges using SFOX ‘s 7 proprietary algorithms. According to SFOX, its 7 proprietary algorithms are expected to optimize everything from price to speed, to order size. The listing of Litecoin on SFOX is expected to provide it with access to institutional investors, in tandem deepening its liquidity in the market.
Litecoin has been receiving a lot of attention in recent months and it was a matter of time before institutional money took an interest to it. However, SFOX is not the first platform to add LTC and expose it to institutional investors. Last year Coinbase listed LTC to GDAX (an advanced trading platform by Coinbase), for advanced traders and institutional investors.
It also added it to its website for regular traders.
Litecoin is expected to half its mining reward in 2019 as it so does every four years. This reduces the supply of the coin in the market, creating a demand in the market. This expected to push LTC prices high. This then sounds like a great time for institutional players to buy LTC in anticipation of a price surge.
Litecoin Price Analysis
Litecoin has been performing exceptionally well for the last 48 hours. After jumping to $63 yesterday, today, September 28, the coin’s price has slightly corrected. At the time of press, it is trading at $61.31. If the coin continues to correct itself, it expected that it will settle at $60. A decline below the $60 mark could trigger a bearish market that could send it back to $58.
This year, given the slow price development in the cryptocurrency space, Litecoin might find it hard to soar to its all-time highs of $100 or $300 records, but with Litecoin’s halving coming next year, the coin will surely come close to reaching its highs or indeed hitting them.
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