Litecoin Price Rises After Walmart Rumour

Litecoin’s price jumped by roughly 30% on Monday due to a fake press release.

Walmart Will Not Be Accepting Litecoin

GlobeNewswire, a press release distributor, announced on Monday that Walmart will let customers pay with litecoin from the 1st of October. As a result, the price of the cryptocurrency rose by around 30%. 

This, however, turned out to be false. The retailer denied the statement the same day. Litecoin also confirmed that the press release is fake.

Consequently, litecoin’s price tumbled down.

An Investigation Is Taking Place

The email with the press release contained a website, that’s been registered the month prior. Replies to the sender were not delivered.

GlobeNewswire commented on the situation: “This has never happened before and we have already put in place enhanced authentication steps to prevent this isolated incident from occurring in the future. We will work with the appropriate authorities to request – and facilitate – a full investigation, including into any criminal activity associated with this matter.”

Walmart is also investigating the matter.

A Crypto World

Cryptocurrencies are entering the “real” world steadily. 

People can now buy almost everything with bitcoin and other cryptocurrencies – from airplane tickets and pizza, all the way to gambling. Recently, El Salvador adopted it as a legal tender. 

The interest in buying and trading coins is also on the rise. 

Experts predict the global crypto market size will reach $1087.7 million by 2026.

Sources

ABOUT AUTHOR

Devoted my whole life to words - reading, writing and trying to be original on social media. Got certified in digital marketing - still not cool enough to be an influencer. Finished a master’s degree focused in Literature, Publishing, Mass Media. Hobbies include traveling, reading and hoping that yoga will be the thing to finally teach me some patience. Would like to take over the world at some point, but that’s an optional dream. Maybe modern tech can help me do that?

Latest from Teodora

What Is SEO Writing Employee Theft Statistics That You Don’t Want to Miss in 2021 15 Disturbing Workplace Violence Statistics for 2021 White-Collar Crime Statistics That You May Not Know About in 2021

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *