Cryptocurrency markets recently experienced one of the biggest manipulation events in history. GlobalNewswire
The well-known press release platform served that Litecoin (LTC), one of the oldest cryptocurrencies in the branch, has made a great collaboration with Walmart. Compared to the thesis Walmart would start receiving payments in Litecoin with the prestige of October 1.
This news was very valuable because cryptocurrencies can finally be found in the real world. available was becoming. However, within minutes, it turned out that this situation did not reflect the truth. After the press release, which was the subject of the word, hit the headlines, he shared a post on his Twitter account and Litecoin administration announcing the decision, deleted this post. Walmart, on the other hand, made a statement on the subject, claiming that the information is not the truth and that they did not have the press release prepared. Well, what do you think happened in this process that lasted about 25 minutes?
There was a fluctuation of around 120 billion dollars in the market
The collaboration between Walmart and Litecoin, which is said to have made, suddenly moved the markets. So much so that, with the service of the news, the markets fluctuated as much as $100-120 billion. In particular, Litecoin has had its share of this wave. From $175 in a short span of 17 minutes rising to $233 Litecoin later declined to $178. Novice traders entering Litecoin from the top how much you wasted is not even possible to claim.
The incident did not only cause loss of money on Litecoin. So much so that the cryptocurrency markets total size also made a splash with the news. The total market size, which was 2 trillion 28 billion dollars before the news, reached 2 trillion 124 billion dollars with the news. Understanding that the news is bullshit will increase the total market size. 2 trillion 4 billion dollars. In this process, while some profited, others lost a great deal.
This is how the price fluctuation in Litecoin reflected on the charts