Litecoin Price Rises After Walmart Rumour

Teodora Dobrilova
Teodora Dobrilova

Updated · Feb 21, 2022

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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.

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Teodora Dobrilova

Teodora Dobrilova

Teodora devoted her whole life to words – reading, writing and trying to be original on social media. She got certified in digital marketing but still feels she’s not cool enough to be an influencer. (We all disagree – she influences the team pretty well.) She finished a master’s degree focused in Literature, Publishing, Mass Media. Her hobbies include traveling, and reading. Teddy hopes that yoga will be the thing to finally teach her some patience and show her the path toward world domination. Maybe modern tech can also help her with that.

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