{"id":9806,"date":"2021-09-13T16:55:27","date_gmt":"2021-09-13T15:55:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=9806"},"modified":"2021-09-13T16:55:32","modified_gmt":"2021-09-13T15:55:32","slug":"litecoin-price-surges-following-walmarts-adoption-fake-news","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/litecoin-price-surges-following-walmarts-adoption-fake-news\/","title":{"rendered":"Litecoin price surges following Walmart’s adoption fake news"},"content":{"rendered":"\n
Following false allegations from major news agencies that U.S. giant Walmart <\/a>will be offering a payment option for the cryptocurrency on all of its eCommerce websites, the price of Litecoin soared to more than $237 this morning.<\/h5>\n\n\n\n
\"Litecoin<\/figure><\/div>\n\n\n\n

According to CNBC\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, a Walmart spokesperson confirmed a press release on Litecoin was \u201cnot authentic\u201d roughly an hour after the initial report broke.<\/p>\n\n\n\n

Walmart planned to offer a “Pay with Litecoin Option” for its retail websites starting on Oct. 1 as part of a relationship with the Litecoin Foundation, the organization financing and encouraging adoption of the Litecoin (LTC) ecosystem, according to CNBC, Reuters, Decrypt, and others on Monday.<\/p>\n\n\n\n

The reports appeared to be the result of a single news release distributed by GlobeNewsWire. Walmart picked LTC for payments because of its “cheaper and speedier” qualities and the token's “no central authority,” according to the press release.<\/p>\n\n\n\n

A Walmart official, according to CNBC, verified the press release was “not legitimate<\/a>” about an hour after the initial report surfaced.<\/p>\n\n\n\n

According to data from Cointelegraph Markets Pro, the price of LTC jumped more than 35% soon after the phony news was published, from $175 to a monthly high of more than $237, before plummeting. The price of Litecoin is $182 at the time of posting.<\/p>\n\n\n\n

Walmart, which has a market capitalization of more than $406 billion, has previously stated that it is interested in cryptocurrencies.<\/p>\n\n\n\n

The company advertised a job <\/a>for an expert who could design a digital currency strategy and product roadmap in August but did not specify that it would be launching a crypto payment channel.<\/p>\n\n\n\n

In addition, Walmart has been using blockchain technology for supply chain management, customer marketplaces, and smart appliances since 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following false allegations from major news agencies that U.S. giant Walmart will be offering a payment option for the cryptocurrency on all of its eCommerce websites, the price of Litecoin soared to more than $237 this morning. According to CNBC , a Walmart spokesperson confirmed a press release on Litecoin was \u201cnot authentic\u201d roughly an […]<\/p>\n","protected":false},"author":12,"featured_media":9823,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[131],"tags":[1798,163,2230],"class_list":["post-9806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin-news","tag-fake-news","tag-litecoin","tag-walmart"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/Litecoin-price-surges-following-Walmarts-adoption-fake-news-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=9806"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/9823"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=9806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=9806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=9806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}