Litecoin gets full support from Coinbase, users can buy and sell Litecoin on its platform and wallet

Golden Finance News - Bitcoin company Coinbase's digital currency exchange business has added Litecoin, indicating its support for Litecoin, allowing users to buy and sell, sell and store Litecoin using its platform and wallet.

Litecoin ranks fourth by market capitalization, with a value of over $1 billion Image source: Golden Finance

Litecoin is now the third cryptocurrency, after Bitcoin and Ethereum, to receive full support from San Francisco-based digital currency exchange and wallet provider Coinbase.

Coinbase CEO Brian Armstrong: "We are no longer just a Bitcoin company. We are a digital currency company."

At the end of the year and the beginning of the next year, it was emphasized that the company would increase support for multiple digital currencies in order to fulfill its development tasks.

With Coinbase announcing support for Litecoin, Litecoin is currently the fourth-largest cryptocurrency by market cap, valued at over $1 billion.

Li, the founder of Litecoin, worked as the engineering director at Coinbase for many years. Image source: Golden Finance

Coinbase wrote: “Coinbase’s mission is to create an open financial system for the world. We are paving the way to achieve this goal by creating the most reliable and easiest way to buy/sell digital currencies. With the addition of Litecoin, one of the most trusted and popular digital currencies, we are one step closer to our goal.”

——It is worth noting that Li, the founder of Litecoin, served as the engineering director at Coinbase for many years.

In the last week of March, Coinbase received approval from New York financial regulators to offer its first Litecoin transactions to users in the state. By the end of March, the price of Litecoin had soared to its highest point in two years, doubling its gains.

Litecoin has been more prominent in April, enthusiastic about the possibility of a segregated witness scheme, a protocol upgrade that could provide avenues for additional technologies such as the lightning network and sidechains for cryptographic security.

On Coinbase, Litecoin is currently trading at $22.72 Image source: Golden Finance

In anticipation of SegWit, Litecoin prices hit a 3-year high in the first week of April. In mid-April, prices resumed rising as Litecoin mining pool BW began signaling for SegWit.

On April 21, a group of Litecoin miners and developers reached an agreement to activate SegWit, continuing a month-long rally in its price.

As Coinbase announced it was adding support for the cryptocurrency, Litecoin prices rose nearly 30 percent from about $18.17 per coin early Wednesday to a high of $22.32 early Tuesday.

On Coinbase, Litecoin is currently trading at $22.72, higher than it has been since early 2014.

These apparent gains have helped spur Litecoin’s move into the privacy market cap of the billion-dollar club. The total value of all mined Litecoins has reached more than $1.1 billion.