Russia is considering developing a national stablecoin after Tether froze $30 million in USDT tied to sanctioned exchange Garantex, exposing vulnerabilities in relying on foreign stablecoins. Deputy Finance Ministry official Osman Kabaloev emphasized the need for a domestically controlled alternative, potentially pegged to gold, to mitigate risks under Western sanctions. The proposal follows Garantex’s inclusion in EU sanctions and U.S. allegations of processing $96 billion in illicit funds. While the Finance Ministry pushes for the stablecoin, the Bank of Russia remains cautious about private stablecoins. The move aligns with BRICS efforts to reduce dollar dependency, as Russia also plans a state-backed crypto fund using confiscated assets and hosts a major blockchain forum.
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Grayscale Litecoin Trust Raises Funds as LTC Price Shows Strong Rally
Grayscale Litecoin Trust has raised $2.3 million through a private placement of 242,900 shares, increasing the total to 24.1 million. Analysts predict Litecoin (LTC) could surge to $150 if it surpasses the $126 resistance level, fueled by market excitement over a potential spot LTC ETF approval and a recent trading volume spike of 300%. For more details, visit [Bloomberg](https://www.bloomberg.com) and [SEC](https://www.sec.gov).
read moreAnalyzing Litecoin’s Market Position and Future Prospects for Investors
Litecoin, launched in 2011, has maintained its position among top cryptocurrencies, boasting 368,000 daily active users and a market cap of $4.3 billion. Despite its resilience, it faces stiff competition from Bitcoin Cash and stablecoins, which offer faster and less volatile payment solutions. Analysts rate LTC a 3.5 out of 5, reflecting its longevity against significant market challenges.
read moreSmall Litecoin Holders Exit Market Indicating Potential Bullish Reversal
Litecoin’s value has dropped 36% since April 1, leading to a notable exit of small holders, with 45.2k wallets holding between 0.1-1 LTC liquidating. This trend, often seen as a precursor to bullish reversals, coincides with a significant increase in on-chain activity, which has more than doubled over the past year, indicating growing adoption despite market volatility. Currently, Litecoin is trading at $63 after a slight decline.
read moreLitecoin On-Chain Volume Surges to 412 Million LTC in One Week
Litecoin’s on-chain volume surged to 412 million LTC in a week, surpassing $26.5 billion, marking a significant increase from 196 million LTC the previous year. With 62 million transactions in the first seven months of 2024, Litecoin is on track to exceed last year’s total, showcasing its growing adoption and utility in the digital currency market. The average transaction fee remains low at $0.005, making it a more practical option for daily transactions compared to Bitcoin.
read moreBlockchain Life 2024 Unveils Esteemed Speaker Lineup for Dubai Event
Blockchain Life 2024, a leading event in web3, cryptocurrencies, and mining, has unveiled its esteemed speaker lineup for the upcoming 13th edition in Dubai. The event will bring together over 10,000 influential figures from around the world on October 22-23, offering insights on navigating the current Bull Run. The forum will feature panel discussions, keynote presentations, networking opportunities, and a large crypto expo with over 200 booths, along with simultaneous translation of speeches into more than 70 languages.
read moreLitecoin ETF Speculation Grows Amid Ethereum ETF Doubts
The SEC’s approval of the first Bitcoin Spot ETF in the US has led to a slowdown in capital flow for Bitcoin Spot ETFs in April, with BlackRock’s IShares Bitcoin Trust Registered leading in total assets under management. Meanwhile, rumors are circulating about a potential Litecoin ETF, fueled by institutional interest and recent price surges, as the market speculates on the approval of altcoin ETFs amidst regulatory hurdles for Ethereum.
read moreLitecoin’s Potential ETF Sparks Price Surge Amid Institutional Interest
Rumors of a potential Litecoin ETF have driven a 10% price surge, fueled by institutional interest and speculation. Regulatory developments, including the classification of Litecoin as a commodity, have intensified discussions about the approval of a spot Litecoin ETF, despite the cryptocurrency’s 77% drop from its all-time high. The market awaits the outcome of regulatory clarity and a potential breakthrough above the $128 mark for Litecoin’s bullish momentum.
read moreLitecoin Network Surpasses 8 Million Total Holders Amid Growing Adoption
The Litecoin network has surpassed 8 million total holders, indicating significant adoption growth. Despite its fast and affordable transactions, Litecoin’s price has lagged behind its peers, currently ranking as the 22nd largest cryptocurrency by market cap. However, the upcoming launch of a futures product for LTC on Coinbase may bring positive developments for the asset.
read moreLitecoin Network Undergoes Core Upgrade with Enhanced Security Measures
Litecoin has undergone a significant core upgrade, introducing security updates to mitigate potential threats and vulnerabilities. The latest release also includes new MWEB features and build changes, marking an important milestone in Litecoin’s ongoing evolution. Additionally, Coinbase Derivatives has hinted at plans to launch cash-settled futures contract products for cryptocurrencies Litecoin, Dogecoin, and Bitcoin Cash.
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