While the price of Litecoin has dropped with 12% last month, the beginning of November has brought a strong increase. The price of Litecoin has risen significantly over the weekend. As you can see in the chart below, there is great demand for LTC at the moment. It is likely that LTC is heading for $3,- soon. There is still no word from MtGox about the implementation of Litecoin, but it seems that the rumour is still hanging in the air.
From Standard Crypto | I am going to go out on a limb and predict that MtGox will announce Litecoin support sooner than anticipated — possibly by the end of August. There is clearly trouble at mtgox, which started when the US closed gox’s dwolla account for failure to register itself as a money services business; and things got worse with the coinlab lawsuit. The lawsuit seems to have blown over. But more recently USD withdrawals have gotten veeeery slow. Like, months slow. Customer support is evasive as to why.
A study of the Bitcoin exchange industry has found that 45 percent of exchanges fail, taking their users’ money with them. Those that survive are the ones that handle the most traffic — but they are also the exchanges that suffer the greatest number of cyber attacks.
Computer scientists Tyler Moore (from the Southern Methodist University, Dallas) and Nicolas Christin (of Carnegie Mellon University) found 40 exchanges on the web which offered a service of changing bitcoins into other fiat currencies or back again. Of those 40, 18 have gone out of business — 13 closing without warning, and five closing after suffering security breaches that forced them to close. Four other exchanges have suffered serious attacks but remain open.
One of those is Mt Gox, the largest Bitcoin exchange, with Moore and Christin stating that at its peak it handles more than 40,000 Bitcoin transactions a day, compared to a mean average of 1,716. It has been the victim of a huge number of distributed denial-of-service (DDoS) attacks over the past month during the peak of the Bitcoin bubble (and its subsequent bursting — though the price now appears to be rising again). Its latest statement, dealing with the attack it suffered on 21 April, is long and comprehensive, seeking to assuage the fears of Bitcoin users who feel that Mt Gox is becoming a weak chain in Bitcoin’s infrastructure.
Mt. Gox is a service of Tibanne Co. Ltd., a privately-owned Japanese corporation based in Tokyo, Japan. Recognized as the leading exchange for Bitcoin, a digital cryptocurrency, Mt. Gox has seen unprecedented global growth in 2013 and is currently focusing on building a stronger infrastructure to safely promote the spread of Bitcoin throughout the world. Now in it’s last press relaese Mt. Gox is speaking for the first time officially about the rumours that Litecoin will be added to the Mt. Gox portfolio next to Bitcoin.