Bittrex 'Seriously Considering' Dropping LTC Markets For BlackCoin
The U.S. based exchange Bittrex is seriously considering dropping its Litecoin Markets in favor of BlackCoin, according to a press release put out by Blackcoin.
The deal isn't finalized and is dependent on the BlackCoin community proving that there is enough liquidity in the coin to support said market. It seems the low level of liquidity for Poloniex's new Monero market is one reason for that condition.
Reportedly, the BlackCoin developers had approached Bittrex with the possibility of an additional BlackCoin based market, but it was Bittrex's idea to drop its Litecoin market in favor of BlackCoin. We have also been told that BlackCoin is dedicated to proving it has the liquidity, and has some large holders of BlackCoin ready to drop their coins onto the Bittrex market in order to help improve the liquidity.
According to the release put out by BlackCoin, the main reason Bittrex is looking to drop LTC in favor of BlackCoin is because of BlackCoin's quicker confirmation times, which is important for high speed day trading of alt coins. The developer community was also cited as another reason for picking BlackCoin.
We reached out to Bittrex and they confirmed that they are in works with BlackCoin, stating “We are working with BlackCoin on the possibilty [sic] of adding them as a basemarket. Blackcoin brings many advantages as a base currencies that BTC and LTC don't have today.”
- Bittrex's Litecoin market as of 25 July 2014
According to our sources, the BlackCoin market on Bittrex will support “2-3” coins at first, with more being implemented as time goes on. LTC, DOGE, MIN, UNO, VOOT and RZR the first to be considered. After those coins, GUE and JUDGE are considered to be the next on the list.
If the Bittrex BlackCoin market launches, it would be a huge win for BlackCoin, which has seen its value jump dramatically since the announcement. Keep in mind, nothing is finalized and if the deal falls through, then the coin will likely see a mirroring drop in price.
We will have more as it becomes available.
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