Today marks a very important day for anyone involved in the world of Cryto and digital currencies. The BitTrex exchange owners have an announcement about their bold decision involving Litecoin & BlackCoin. Let’s take a look.
According to our sources, the BitTrex exchange owners have proposed to remove the Litecoin markets from their exchange, and replace them with BlackCoin markets. This would be a very big move in the world of altcoins.
The reason for this change is because the current methods of arbitrage are not beneficial to fast moving markets. Basically, the Litecoin network is too slow to handle the transactions in this fast evolving trading landscape.
I’m pretty sure the dindling interest in Litecoin also plays a key factor in this change. Across all exchanges, Litecoin trading volume has been on a slow but steady decline all year long. There is a point where you have to start looking at other options, and BitTrex is only the first of many exchanges to potentially drop the Litecoin trading market.
One of the main reasons why BlackCoin is considered as a candidate to replace Litecoin, is because of the sheer amount of services they have developed/are developing. BitTrex want a digital currency which is not only fast, but also innovative and secure.
In order for this change to happen enough liquidity needs to be provided. All BlackCoin holders and traders are advised to move funds from all other exchanges over to BitTrex. We will keep you updated in regards to this situation.
Official announcement : http://blackcoin.co/news/571/blackcoin-making-move-to-become-market-on-bittrex