CRYPTO MARKET CAP $180 BILLION AS BITCOIN PRICE HITS ALL-TIME HIGH
The second largest digital currency in South Korea, Coinone after the second largest trading platform in the world by trading volume, Bithumb has finally integrated Litecoin.
Coinone has currently gathered $3.2 million worth of Litecoin-to-Korean Won trades within the first 24 hours of its integration, which has made it be the eleventh largest Litecoin exchange in the cryptocurrency network.
South Korea has been branded a very important market for Litecoin, basically due to the processing of 25 percent of the global Litecoin exchanges by Bithumb. According to analytics, Bithumb settles a total of $38.5million in LTC to KRW exchanges daily, which is a record trading volume that is twice as much as the volume of the flagship digital currency exchange of Coinbase, GDAX.
It was reported by CCN during the week that the listing of digital currencies by Bithumb and some other exchanges of South Korea is of great importance for top digital currencies simply because the induction of the trading platforms of South Korea offer instant fluidity to a constantly expanding market.
According to a report by CCN: “Bithumb has been an important factor in the rapid growth rate of Bitcoin Cash. As the second largest cryptocurrency exchange in the world behind Bitfinex, the integration of Bithumb provides significant liquidity to a cryptocurrency. The importance of the integration of Bithumb has recently been demonstrated by Qtum. Within five days of integrating Qtum, Bithumb became the largest Qtum exchange market, with around 51% of market share.”
It is crucial to understand that the exchange of Coinone is majorly done offline and it targets retail traders, institutional investors, and top investors in the local financial community. Its customer service is a direct one in the headquarters of Coinone Blocks in Seoul and is effective in exchanging digital currencies with customers.