Litecoin (LTC) Corrects 35% From 52-Week High, What’s Next?

Litecoin

2019 has been an excellent year for cryptocurrencies, with most tokens having gained considerably from their lows of 2018. However, the month of July has not been kind at all as statements from key figures like the United States President and the head of the Federal Reserve have wrecked the market over the past seven days. In that regard, Litecoin (LTC) has not been able to escape the carnage either and has lost some of its value during this period. That being said, there is, at last, some good news for Litecoin amidst all the doom and gloom of an uncertain crypto market.

Litecoin on Binance Singapore

In a new development, it has been announced that Binance Singapore has added Litecoin, and while the announcement has not made a huge impact on the price yet, it is a big development. The Litecoin token had been worth $140 at one point, but currently, it is trading at only $94. However, this listing gives the token access to a much larger and wealthier base of customers.

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Singapore is currently at the 36th position globally in terms of Gross Domestic Product and remains one of the world’s most foremost financial hubs. It goes without saying that the token’s listing on Binance Singapore will eventually have a significant impact on it.

>> Bitcoin (BTC) Slumps 27% This Month: Here are Two Key Reasons

LTC definitely has significant potential, and currently, it is the fourth biggest cryptocurrency in the world in terms of market cap. Hence, this particular listing has the potential of opening up the token to considerable investment from the South East Asian market. More importantly, users in Singapore will be able to buy Litecoin using the Singapore Dollar, and at this point in time, that is the only pair that has been made available. It goes without saying that more pairs will probably be introduced as the interest in Litecoin rises in the region.

Litecoin has corrected over 35% over the past month amid broader sell-off in the cryptocurrency markets. However, despite the recent correction, LTC is one of the top performers and has gained 330% from its 52-week low $22.50.

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