Chinese ‘Pump-n-Dump’ Suspected as Litecoin Passes Bitcoin in Trading Volume
Following an unprecedented day of trading for Litecoin at a higher daily USD volume than bitcoin, suspicions of a ‘pump-and-dump’ scheme in China have arisen following a correction in price. Just before, Litecoin has gained fifty US cents to a full US dollar in value - tantamount to Mazda selling more cars in a day than Toyota. “I think Litecoin is still very complimentary to Bitcoin — silver to Bitcoin's gold if you will. Because Litecoin is an altcoin and a much smaller market cap, the Litecoin price is extremely volatile. So when the crypto currency market is crashing, it gets hit a lot....
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On Saturday, the Litecoin market holdings were dropped like third-period French. In much the same fashion, the ultra-secure altcoin Dash has also seen a marked rise in trading over the weekend, stoking fears of an equally precipitous decline in the coming days. As we reported on Friday, an alleged “Pump-and-Dump” scam was suspected for the Litecoin currency and its sudden meteoric rise. Advocates of the altcoins would remark that the Grexit is a factor in the sudden value spikes and has helped them, as it has bitcoin. The hard numbers do not bear this out. For no particular reason, trading....
Chinese Bitcoin Exchanges: Litecoin Price Volatility Driving Bitcoin Gains, Not Chinese Stock Market
Over the past several days, investors have witnessed sudden gains in volume and extreme price volatility for litecoin. In the last week litecoin has gained over 79 percent against bitcoin, 88 percent against the U. S. dollar and 90 percent against the euro and the yuan. Much of the rapid increase in volume around litecoin trading was coming from Chinese markets, which is cause for concern at Huobi, a major digital currency exchange based in Beijing. According to Arthur Hayes, the Cofounder and CTO of BitMEX, a litecoin ponzi scheme may have caused both bitcoin price and volume increases on....
The Australian financial watchdog has revealed the details of how it took down ASX traders suspected of taking part in a coordinated Telegram pump and dump scheme. The Australian Securities and Investments Commission (ASIC) has revealed the details of how it took down crypto “pump and dump” Telegram groups back in October. A pump and dump scheme typically involves using social media to coordinate users to buy large amounts of a thinly traded token to artificially inflate its price. They then cash out with massive gains after other investors, who aren’t in on the scheme, FOMO in on a....
The 24-hour Litecoin trading volume is edging close to overtaking that of Bitcoin, as traders and developers investigate alternatives to BTC's backlog, while fears of a pump and dump rise. Following a 24-hour jump of 21.21%, Litecoin sits at only US$800,000 of trading volume away from overtaking Bitcoin as the most traded digital currency in July 9 trading. The volume has quadrupled in the last week to its current US$40M figure. On July 2, 24-hour trading volumes stood below US$10M. Speaking to CoinTelegraph, Litecoin founder Charlie Lee detailed some of the technical differences that may....
The interest in cryptocurrencies continues to wane in 2022, as does Litecoin’s popularity. The trading volume of Litecoin was eight times lower in the first quarter of 2022 than it was in the first quarter of 2021. For example, the trading volume from January to March 2022 was around $82 billion, 87% less than in Q1 2021. In the first quarter of 2021, the trading volume was $674.9 billion. Litecoin (LTC) trading volume crashed by more than $590 billion in quarterly comparison. Related Reading | ApeCoin (APE) Is Now The Biggest Metaverse Token, Edging AXS, MANA, SAND The sharp....