Friday, March 31, 2023
  • Login
  • Register
btclive365.com
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
btclive365.com
No Result
View All Result
Home Litecoin ( LTC )

Will Litecoin MimbleWimble Upgrade Become Its Doom?

btclive365 by btclive365
November 9, 2022
in Litecoin ( LTC )
0
Will Litecoin MimbleWimble Upgrade Become Its Doom?
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Five major South Korean exchanges announced their intentions to delist Litecoin (LTC). The cryptocurrency recently implemented an update to improve its privacy and scalability features.

Related Reading | Litecoin Reveals Rollout Date For MimbleWimble, Will LTC See Relief?

As a result, Upbit, Bithumb, Korbit, Gopax, and Coinone will stop offering to their customers. The update has made Litecoin incompatible with South Korean regulations.

In the official delisting announcement posted by Upbit, the platform claims the following trading pairs will be unavailable as soon as today, June 8th: LTC/KRW, LTC/BTC, and LTC/USDT. The core reason behind this decision, the exchange said, is:

(…) it is believed that the upgrade has been carried out with a selection function that does not expose transaction information.

The decision is guided, the post continued, by South Korea’s Specific Financial Information Act. This regulation demands exchange platforms to check a blockchain’s transaction for “transparency”.

In that way, Upbit and other South Korean exchanges can verify that the user or the transaction doesn’t violate the country’s anti-money laundering regulations. The rule is also aimed at preventing bad actors to obtain funds via illegal activities.

The South Korean exchanges claim the MimbleWimble update will provide the Litecoin network with these capabilities:

(LTC) has room to see the addition of technology that makes these transfer records unidentifiable, so we decided to designate it as a significant issue. So far, there have been no deposits made using the Mimblewimble function with Upbit, and we do not plan to reflect deposits in the future.

The MimbleWimble and Litecoin’s new privacy features seem to affect South Korean exchanges. However, privacy coins have been outcasted from major trading platforms over the past two years.

Monero (XMR), Zcash (ZEC), and others suffered from a similar decision taken by many exchanges across the world. The MimbleWimble could unleash this possibility for LTC.

Litecoin Unaffected By South Korean Exchanges’ Decision

At the time of writing, LTC’s price seems unaffected by recent developments. The cryptocurrency continues to move sideways and trades at $62.

Litecoin LTC LTCUSD
LTC moving sideways on the 4-hour chart. Source: LTCUSD Tradingview

Larger cryptocurrencies, such as Bitcoin and Ethereum, continue on the same path as they remain rangebound and unable to break above local resistance. Only Cardano (ADA), due to a surge in network activity, and Chainlink (LINK), due to its roadmap on staking, seem to be decoupling from the overall market.

Research firm Santiment noted:

Crypto prices chopped wildly in the opening week of June, but the result has been mainly no movement for Bitcoin and Ethereum. Altcoins, on the other hand, have shown major decouplings from one another, with ADA, LINK and HNT performing well.

Related Reading | Litecoin Drops 87% Trading Volume In Q1 2022

Additional data from material indicators, for low timeframes, records an increase in buying orders from retail investors. Larger investors seem to be selling into the current price action, but it is too early to tell if this trend will sustain for the coming days.

Litecoin LTC LTCUSD MI1
Retail (in yellow on the chart) buys as other investors sell (red, purple, and green on the chart). Source: Material Indicators





Source link

Previous Post

KyberSwap Trading Contest on BNB Chain! 22,000 KNC to be won by 400 winners! | by Kyber Network | Sep, 2022

Next Post

XAU, XAG at Key Technical Levels as US CPI Nears

btclive365

btclive365

Next Post

XAU, XAG at Key Technical Levels as US CPI Nears

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.8k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest

How to sell Bitcoin – Bitcoin Magazine

November 9, 2022

Add a Tangible Asset to Your Portfolio: Buy Gold

January 7, 2023

Building Bitcoin Standard In Portugal – Bitcoin Magazine

November 9, 2022

USD/ZAR Rallies as SA President Ramaphosa Faces Potential Impeachment

December 1, 2022

Bitcoin price hits 2-week lows as FTX ‘bank run’ drains BTC reserves

1

Building Homesteader Lifestyle With Bitcoin – Bitcoin Magazine

1

Arbitrum dealings activity rockets 550% since August: Delphi Digital

0

Bitcoin․com Doubles Down on Self-Custody With Launch of Verse DEX – Press release Bitcoin News

0

Donald Trump’s NFT Collection Price Surges Post Indictment News

March 31, 2023

USD/CHF to end the year lower at 0.90 – ANZ

March 31, 2023

Papa Johns Pizza Takes a Slice of the Foodverse

March 31, 2023

Stellar (XLM) Price Witnesses Bullish Momentum Amid Recent Developments

March 31, 2023

Recent News

Donald Trump’s NFT Collection Price Surges Post Indictment News

March 31, 2023

USD/CHF to end the year lower at 0.90 – ANZ

March 31, 2023

Papa Johns Pizza Takes a Slice of the Foodverse

March 31, 2023

Stellar (XLM) Price Witnesses Bullish Momentum Amid Recent Developments

March 31, 2023

We deliver up-to-date, breaking crypto news about the latest Bitcoin, Ethereum, Blockchain, NFTs, and Altcoin trends and happenings

Follow Us

Browse by Category

  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Cryptocurrency News Today
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

Recent News

Donald Trump’s NFT Collection Price Surges Post Indictment News

March 31, 2023

USD/CHF to end the year lower at 0.90 – ANZ

March 31, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2022 btclive365 All Right Rivered .

No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

© 2022 btclive365 All Right Rivered .

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In