Guys what's the real reason behind the relish of Litecoin from Korean exchanges like Upbit and Bithumb? I am sure most have heard about this news already but cant figure out the real reason behind the delisting.
Due to privacy concern of the country that delist. This is a bit over reaction since crypto is known for its privacy feature.
I'm surprised that the price of Litecoin didn't affected that much by this delisting FUD by major exchange. I was hoping it will dip down below 50$ but holders seems still trust the project and approve the mimblewimble implementation.
That did not happen because the resistance for the volume drop is from other exchangers. There is big market for lite coin after BTC and ETH. Many payment processors on the online sites use or prefer lite coin for its lower fees and high speed of transaction. Nonetheless Korean user base is way less as compared to what it was resisted with. With ether prices dropping and gas fees at alarming rates lite coin use will always top the market.
Few comments suggest it’s being used for money laundering. Well, all the coins can be used for that purpose, I don’t think it changes anything with lite coin.
