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The reason behind of such a strong pullback in LTC is that Charlie Lee, the former director of engineering at Coinbase, is selling almost all of his holdings in Litecoin (LTC), the cryptocurrency that he founded in 2011.
Lee explained in a post on Reddit that he is selling all of his LTC coins — bar a number of physical coins he keeps as collectibles — to avoid the conflict of interest that comes with his influence and position as LTC founder.
The fact that he sold most of them just because of conflict of interest gives hope to people that its not a bubble and it will keep going up.
Lets see how this one will play out.
The reason behind of such a strong pullback in LTC is that Charlie Lee, the former director of engineering at Coinbase, is selling almost all of his holdings in Litecoin (LTC), the cryptocurrency that he founded in 2011.
Lee explained in a post on Reddit that he is selling all of his LTC coins — bar a number of physical coins he keeps as collectibles — to avoid the conflict of interest that comes with his influence and position as LTC founder.
The fact that he sold most of them just because of conflict of interest gives hope to people that its not a bubble and it will keep going up.
Lets see how this one will play out.