Reddit Forum Filled with Rumors of Chinese Exchange Trading Litecoins

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Reddit Forums Filled with Rumors of Chinese Exchange Adding Litecoins

Reddit Forums Filled with Rumors of Chinese Exchange Adding Litecoins

A rumor has left the wire, mentioning Chinese Exchange Huobi trading in Litecoins. Know its original grounds in this article

ForexMinute.com – A thread started by an anonymous Reddit user “whyyour”, mentioning the Chinese Bitcoin exchange Huobi’s CEO announcement of adding Litecoins, has sparked a series of conversation about the actual grounds of the report.

With many virtual currency enthusiasts welcoming this untested claim, there are still some who are questioning it. Meanwhile, there have been not a single announcement on the Huobi’s website on this matter. A Reddit user points to the recent twitter posts of Huobi’s CEO has confirmed to add Litecoin to the exchange in a Bitcoin conference held in China.

The rumor is getting further darkened with Huobi’s recent announcement to upgrade their system for optimizing exchange system, the reasons of which are speculated to be of the addition of the silver Cryptocurrency to the platform.

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An anonymous user Loule2001912 although raised a smart perception and posted, “Didn’t we already see that they announced this yesterday the 25th. They ended up only upgrading the servers. I don’t mean to be so negative. I’m just making sure this news isn’t just to influence a rally for Litecoin.”

And it somehow seems to be logical as Litecoin’s value is seeing a little improvement since the early Asian trading hours. The LTC yesterday fell massively – about 16% to $12.38 – after the news of Mt. Gox’s shutdown left the wire. At 0000 GMT, the Litecoin was trading at $13.91 – around the time when the rumor of Huobi’s announcement of adding Litecoin was first encountered. At 0300 GMT, the LTC/USD pair saw a little improvement and rose to 14.10. At this time of writing, it is trading at 14.37.

The Thursday’s data is though still volatile in case any false announcement come from Huobi’s office. However, any good news can inject life back to virtual currency arena after a hefty value drop in values in Wednesday trade. Our analysts are constantly monitoring this case further to bring you the latest updates on it. Keep watching this space.

To contact the reporter of the story: Jonathan Millet at john@forexminute.com