Litecoin Surges 30% In One Hour Following News Of Walmart Partnership

Litecoin has recorded massive price movement in the past hour. The coin started to rally after Reuters had reported that retail giant Walmart would begin accepting the cryptocurrency as payment for purchases. The news broke on Monday with a press release that stated Walmart had partnered with Litecoin to allows customers to make payments with LTC. The news triggered a price surge that saw the price of Litecoin grow 30% in a single hour, breaking a three-month high of $237. Before the news broke, Litecoin has been trading in the mid-$170s at $175. News of the Walmart partnership over $60 in one hour to put it this current high. With a customer base that Walmart possesses, it is no surprise that the news triggered such a reaction from the market. Related Reading | U.K. Post Office Now Allows Users Purchase Bitcoin Through Its App Fake Press Release? The press release from Reuters has been shared widely as the news broke throughout the industry. Major crypto media outlets had reported on the news, with the official Twitter account of Litecoin also tweeting a link to the move. The press release from Reuters had featured a quote, seemingly from Walmart’s CEO Doug McMillon, which read; “Starting October 1st, all eCommerce stores will have implemented a ‘Pay with Litecoin Option’. Related Reading | Led By Litecoin, Mid-Cap Altcoins Bleed With Bitcoin In a move that has so far triggered a cascade of deleted tweets and storie...