It appears there is a new Litecoin trading pair on the GDAX platform. It is quite interesting to see this addition, considering there has been no official communication. As of last night, GDAX users can trade Litecoin against the Euro. The company also added an ETH/EUR trading market. These are quite interesting additions at this time, to say the least. Then again, European demand for cryptocurrency is growing as of late.
GDAX Quietly Adds New Trading Markets
It is always quite interesting to see exchanges add new markets. In most cases, these companies publicly communicate these changes. For some reason, very few people noticed GDAX now supports Litecoin and Ether trading against the Euro. The addition of these markets comes at an opportune time for both cryptocurrencies, though. Demand for Litecoin seems to have hit a bit of a roadblock. Ether, on the other hand, is surging in value.
Up until this point, there were rumors about Coinbase adding Litecoin trading. To many community members, that is something to look forward to. That is, assuming it ever happens in the first place. No official listing date has been announced at this time. This leaves room for a lot of speculation regarding the Litecoin price. Over the past few weeks, that price has dropped a bit and remained utterly flat otherwise.
Now that Litecoin can be traded against the Euro on GDAX, things are looking up for the silver to Bitcoin’s gold. Being added to another major trading platform is always good news. GDAX Is a platform mainly sued by professional traders. This could expose Litecoin to an influx of fresh capital. Moreover, the European markets are showing an increased interest for cryptocurrency as of late. It appears the order book for LTC/EUR on the platform is filling up nicely already.
It is also worth noting GDAX added an ETH/EUR pair. That is not surprising by any means, given the Ethereum price increase. It is event traders try not to get caught in this bull trap, though. A lot of people hoped Chinese traders would cause the ETH price to double, yet it seems he impact is a lot smaller than anticipated. That is not surprising, as Ethereum was listed against the CNY on multiple exchanges already. None of these markets showed any major interest in ETH so far.
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