The CEO of crypto trading platform eToro says demand for Bitcoin is as strong as ever despite this year’s decline in the price of BTC.
Today, eToro added IOTA, bringing the total number of coins available up to 12.
Yoni Assia says this year’s market correction is healthy and necessary, as reported by NewsBTC.
“In our view, the recent market correction is good for the long-term development of the market. Crypto assets are still a relatively nascent market. Emerging technologies like this often see swings in their value in the early days. Market adjustments like those we have experienced recently help to stabilize prices, and make the industry more robust. Despite these adjustments, however, we have not seen a significant dip in demand for digital assets.”
The company’s market research department has also revealed its analysis of Litecoin, highlighting the coin’s current transactions speed advantage over Bitcoin.
“Litecoin (LTC) is by far one of the most established networks in the cryptospace. It is already being used by many as a store of value and means of exchange and so can be considered as money. Furthermore, the groundbreaking partnerships that are being formed by the Litecoin Foundation position this crypto for long term success.
According to the metrics we have analysed below, the current price that LTC is trading at could be seen as a massive discount to what it should be worth…
[the_ad id="42537"] [the_ad id="42536"]Litecoin, being cheaper, more numerous and permitting faster and quicker transactions, aims to become a standard for smaller transactions, while Bitcoin can remain as the coin of choice for very large payments and store of value…
Given that Litecoin has an established and stable working product, as well as significant adoption, this bear market of the whole cryptocurrency industry could have led to Litecoin being oversold.”
You can check out the full report here.