Gemini is one of the most important crypto exchanges in the U.S, and ranks at the same level as Coinbase. Its high level of importance in the market was clearly revealed when the market dropped after their ETF was rejected by U.S authorities. With such a huge sway on the market, it follows that if they list Litecoin (LTC), there will be a huge impact on its price. So what are the chances of Gemini listing Litecoin?
Well, yesterday, Gemini announced that their VP for engineering will be presenting at the Litecoin summit in September. Take a look at their tweet below.
From this tweet alone, it is clear that the Gemini team is exploring Litecoin. Otherwise, there would be no point of them presenting at this summit. This tweet is, therefore, a huge reason to be bullish on Litecoin (LTC). That’s because major listings tend to pump crypto prices significantly.
We have all seen this happen with the listing of Ethereum Classic (ETC) on Coinbase. For the past couple of weeks, Ethereum Classic (ETC) has been a top performer, thanks to the decision by Coinbase to list it. Given that Litecoin (LTC) has a higher standing on crypto rankings than Ethereum Classic, and Gemini has a standing that is as high as that of Coinbase, listing Litecoin could easily push it to over $100 within a very short time.
On top of the possible Gemini listing, the Litecoin summit could have some other good news coming up. Huge partnerships will most likely be announced at this summit, as well some advancements on the Litecoin network. A combination of such announcements and a Gemini listing could give Litecoin a massive bull rally all through September.
These factors also combine with the fact that Litecoin is highly undervalued at the moment. At the moment, Litecoin is trading at a huge discount relative to its all-time highs. Given that it is one of the most adopted cryptos at this point in time, and it’s trading at under $60, its upside potential is unmatched.
As such, Litecoin (LTC) is the coin to watch in September. It is relatively undervalued and if there were a huge bull rally at this point, Litecoin would be one of the cryptos that would offer the best returns. It is already showing bullish sentiment in the day, and is now hovering around the $60 mark, and could break above it within the day. A break above $60 could see Litecoin test the $62 level. However, if downside pressure weighs in, Litecoin (LTC) could find support at $56. Such a drop would be great for long-term buyers, in anticipation of the Litecoin summit.