Prior this week (September 26, 2018), Gemini sent a tweet declaring they when the US exchange will exchange Litecoin (LTC) and Bitcoin Cash (BCH).
We announced during the Litecoin Summit that we would be launching LTC support on October 13th. We’ve already received regulatory approval to list BCH but haven’t announced a launch date as of yet. We will be sure to let everyone know when BCH is available for trading!
— Gemini (@GeminiTrust) September 26, 2018
Even though Coinbase as of now enables clients to purchase and offer LTC and BCH for USD, this new market will add advance liquidity to these altcoins. Right now Bitfinex and Coinbase represent around 80% of BCH USD exchanging volume so a Gemini will be a welcome regulated contender.
This announcement comes hot off the tails of Gemini’s ZCash listing, which made Gemini the main licensed ZCash exchange on the planet.
This tweet demonstrates Gemini’s responsibility to straightforwardness concerning new coin listings. Since late 2017, there has been contention encompassing cryptocurrency listings on real exchanges.
At the point when Coinbase began exchanging Bitcoin Cash, it was broadly affirmed that there was insider exchanging. Coinbase did not announce when BCH exchanging would start, so the listing of BCH overwhelmed brokers totally, making prices spike quickly before exchanging was ended.
Only three days after BCH was recorded on Coinbase, the price dove from a high of $4,290 the distance down to $1,550. After this occasion, exchanges have been considerably more straightforward about their listing procedure.
Made in 2015, Gemini is the crypto exchange established and claimed by the Winklevoss twins. Well known for their job in the formation of Facebook, the Winklevoss twins have been an instrumental piece of Bitcoin’s development.
Gemini at present records BTC, ETH, and ZEC, and permits USD exchanging against these coins. Coinbase’s every day exchanging volume is over ten times Gemini’s. The expansion of Litecoin and Bitcoin Cash could convey more clients to Gemini’s site.
Both Coinbase and Gemini hold the dubious New York BitLicense. Propelled in 2014, this license is issued by the New York State Department of Financial Services, and enables companies to purchase, offer, and exchange cryptocurrencies for their clients.
At the point when the BitLicense legislation was announced, numerous crypto companies ended supporting New York clients, keeping in mind the end goal to stay away from New York’s broad regulations. At the season of this composition, just nine companies are holding BitLicenses.
Will this listing impact the price of Bitcoin Cash and Litecoin? What do you think? Tell us in the comments section below.