Litecoin News Today – Crypto Custodian Anchorage Now’s Supports Litecoin – July 23rd, 2020

  • Anchorage crypto custody services add support for Litecoin 
  • Institutional investors will now be able to store and trade Litecoin from Anchorage
  • Litecoin needs support from the market to break the $45.70 area

Litecoin news today – It will appear Litecoin has landed another positive report on the development and adoption front. The digital asset has just been listed by a major crypto custodian in the United States. According to reports, the U.S.-based crypto custodian Anchorage has announced that it has added support for Litecoin. Anchorage announced that it has added support for the eighth-largest digital currency by market cap barely days after Grayscale Investments made a huge announcement relating to the digital asset. This move will help position Litecoin well in the ecosystem and boost its price movement.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$57.90

Litecoin News Today – Institutional Investors Will Mow be Able to Store and Trade Litecoin from Anchorage

With the move, institutional investors will be able to store and trade LTC from Anchorage. The Visa-backed firm reportedly now supports 27 different digital currencies, including BTC, ETH, BCH, and XRP. It also supports USD-backed stablecoins like Paxos standard, TrueUSD, and USDCoin. Litecoin, which forked from Bitcoin and founded by Charlie Lee, is now one of the oldest cryptos on Anchorage’s roaster. Anchorage said the reason it added Litecoin because of its liquid market and a sizeable number of institutional investors who want to trade and invest in the digital asset. Barely days ago, crypto investment and management firm, Grayscale Investments revealed that its Litecoin Trust fund recently cleared a regulatory roadblock and will be quoted on OTC (over-the-counter) markets with the LTCN ticker. Grayscale Investments is owned by Digital Currency Group.

Litecoin News Today – Litecoin Needs Support from the Market to Break $45.70

Litecoin gained 2.83% on Wednesday. This came after the 4.53% rally from Tuesday. The coin went on to end the day at $45.02. At press time, Litecoin was trading higher by 1.00% at $45.47. A positive start to the day saw the price of Litecoin rise from $44.96 to $45.75. Litecoin fought through its first major resistance at $45.72 earlier in the day. LTC price must avoid falling to $44.50 if it wants to support a fresh run at $45.72. The digital asset needs greater market support to break the $45.70 price position. In the absence of another rally, the first major resistance area and the morning high of $45.75 would probably cap any upside action. If Litecoin fails to avoid falling to the $44.50 area, its first major support of $43.77 will come into play again. In the absence of an extended sell-off, Litecoin’s price must avoid the levels below $43. The digital asset has its second major support position at $42.52.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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