The post Become a Litecoin Altcoin Trader | News round up week 21 appeared first on iceCUBED Bitcoin and Litecoin Exchange - South Africa.

Litecoin Altcoin Trader Crypto Exchanges

Any litecoin Altcoin Trader would be pleased with the latest news from Coinbase. The major US exchange this week added support for Ether and Litecoin trading pairs.

If you are an Ether or Litecoin Altcoin trader, you will be able to trade all major currency pairs on Coinbase’s exchange. The company also rebranded its exchange platform to GDAX (Global Digital Asset Exchange).

Bitcoin and Litecoin Altcoin Trader Price Action

Bitcoin and litecoin altcoin traders, taking a long position, have received a pleasant surprised in end of week trading.

Bitcoin took a jump, up over 5%, seeming to confirm the longer-term bull trend we have been discussing. How bitcoin goes, so goes litecoin. If you are a litecoin altcoin trader, holding a long position, end of week gains were 6%+.

As one of the leading Bitcoin and altcoin trader companies in Africa, we’re always pleased to report positive news from the continent.

The Daily Nation this week ran a special piece detailing the benefits of bitcoin, as an alternative for wealth preservation.

Kenya is currently in the midst of a banking crisis. The prevailing market conditions are very bullish for bitcoin, long-term. Any bullish news for bitcoin should be understood as bullish for litecoin, by any litecoin altcoin trader. The pattern and relationship between the two currencies is well established in the market.

“Kenya’s banking crisis warrants a closer look at Bitcoin” via @pesa_africa

— Michael Kimani (@pesa_africa) 16 May 2016

Russian Bill to Ban Bitcoin and Litecoin Trader

Russia has a somewhat mixed relationship with Bitcoin and altcoins. The currency is very popular locally, as an alternative means of exchange and wealth preservation.

However, the Federal Government has repeatedly shown a desire to restrict, and even outright ban, its use. Considered money substitutes, Bitcoin and altcoins are not considered favourably by competitors.

The ministry of finance’s latest attempts to criminilize usage has been withdrawn. Further, the opinion amongst leaders in the Duma (Russian parliament) are split.

Funding and the DAO

The DAO made a huge number of headlines this week, as it raised over USD 100 million, in ether altcoins. This represents the largest crowd fund in history.

There is noticeable anticipation in the market, amongst altcoin traders, as to to the price when the tokens first float next week.

DAO altcoin tokens essentially represent shares in the DAO (Decentralised, Autonomous Organisation).

The DAO is a new type of corporate entity. It has a very different organisational structure to a traditional company. It’s model is based on autonomous code executing on the Ethereum network.

Largest crowdfund in history is now a smart contract (TheDAO: $120m). Already incomprehensible to most, technology change is accelerating.

— AndreasMAntonopoulos (@aantonop) 17 May 2016

It is leaderless and its governance is completely distributed. It exists to evaluate the potential of financing proposals, with its ‘shareholders’ assessing proposals in a decentralized way. They then vote with their tokens on which projects they believe should get the funding. Funds are held by the DAO, in the Ethereum smart contract.

The post Become a Litecoin Altcoin Trader | News round up week 21 appeared first on iceCUBED Bitcoin and Litecoin Exchange - South Africa.