BTC China’s official announcement reads as follows:
We are very excited to introduce BTC China’s new member – Litecoin!
Bitcoin grew tremendously in 2013, while another virtual currency has also made considerable progress – Litecoin. It gradually gained recognition from the Bitcoin enthusiasts. By popular request, we have now added Litecoin trading to BTC China’s trading platform.
In addition, Litecoin trading will have 0% trading commission!
As a responsible trading platform and a Bitcoin industry leader, BTC China is committed to providing a safe and secure platform. We always focus on the safety of customer’s funds.
We will strive to continue to offer the best service to our customers, so we appreciate any suggestions, comments and feedback.
Thank you for your support, and we wish you a happy and prosperous Year of the Horse!
BTC China Team
March 4, 2014
It is expected this surprise good news will provide a real boost to Litecoin, which has recently been eclipsed by Auroracoin for the coveted position of most valuable altcoin in the rankings of mineable cryptocurrencies.
There has long been speculation that Litecoin would appear on BTC China, given the creator of Litecoin, Charlie Lee, is the brother of BTC China’s owner, Bobby Lee.
Although cryptocurrency prices are green almost across the board as the Bitcoin market finally looks past the Mt. Gox fiasco to its bright future, Litecoin is outperforming. Barring Auroracoin and Mazacoin, both new breeds of pre-mined national coins, Litecoin is up the most of the next 23 most valuable coins.
Surely the BTC China news is contributing to its relative outperformance. Bitcoiners will remember the massive supporting volume BTC China’s 0% fees lent to the Bitcoin price in late 2013.
The Litecoin / Chinese Yuan data feed will likely be coming to Bitcoin Wisdom shortly. Assuming you have access to these multiple exchanges, look out for arbitrage opportunities between BTC China, as price finds its level there, and established prices on OKCoin, Bter and BTC-e.
Hypron, creator of the 4-way split window for watching the Bitcoin price across several exchanges, is going to release a similar 4-way split view for the above-mentioned Litecoin exchanges. Watch his Twitter for the announcement, Litecoin traders.
In celebration of this historic event in Litecoin’s history, the Lee brothers have pledged a combined 2000 LTC to the Litecoin Development Fund, as announced by Charlie Lee in this Reddit thread.
Last modified (UTC): March 4, 2014 13:54