Call it a slow start.
A plan to launch a new cryptocurrency by forking the litecoin blockchain went off without a technical hitch over the weekend, but at press time, the market isn’t exactly embracing the new coin.
Currently trading at just $5 on a little over $1 million in volume, litecoin cash (LCC) is valued at just 2 percent of the price of the official litecoin project, the world’s fifth-largest cryptocurrency and one of the few to see nearly $1 billion in volume Thursday.
The lackluster pricing follows what had been a notable start as far as the price action is concerned.
LCC opened at around $1.40 and surged to $9.25 on Feb. 20, which amounts to a 560 percent rise, according to data service CoinCodex (one of the few to yet offer data on the project). Even litecoin benefited from the move, surging as investors sought to lock in holdings before litecoin cash cloned its blockchain and offered free coins to litecoin holders.
However, despite this built-in audience, no major exchange has yet announced support for LCC.
Read full article: https://www.coindesk.com/litecoin-cash-forked-hardly-trading/