Walmart is going to partner with Litecoin, or not after all….

Table of Contents

Estimated reading time: 0 minutes

Walmart is going to partner with Litecoin, or not after all….

Earlier today, a collaboration between US wholesaler Walmart and Litecoin was announced. According to this collaboration, Walmart would accept Litecoin as a payment method on all their online platforms. This, of course, caused a pump in the price. This time a price increase of as much as 35%.

A few hours later, Walmart came out with a statement in which they announced that the message about this collaboration was not true, which of course resulted in another huge dump. How could this happen? And what can we learn from it?

The collaboration between Walmart and Litecoin

On Monday morning, well-established and generally well-informed sources such as CNBC, Reuters and Decrypt, as well as several other crypto media outlets, made it known that Walmart would be accepting Litecoin payments on all of their online platforms starting October 1. This would come from a partnership with the Litecoin Foundation.

As you probably expected, the entire crypto world went wild. Thousands, if not millions, of people decided to invest in LTC. This resulted in a price increase of a whopping $237,-

A few hours later, a press officer from Walmart came out with a statement. In it, he called the news “not authentic. The Director of Marketing of the Litecoin Foundation also announced that it was fake news. This caused a huge price drop, from almost exactly $237,- again.

Walmart to partner with Litecoin

Fake News in crypto

So you see what an influence (fake) news can have on crypto. Prices can skyrocket when there is good news, but they can also collapse when there is bad news.

Do you want to be the first to know about all the crypto news so you can anticipate? Then join our free Telegram group! Here we share all the latest news and are always ready to answer your questions.


Disclaimer: Trading and investing in cryptocurrencies (also called digital or virtual currencies, altcoins) involves a substantial risk of loss and is not suitable for every investor. You are solely responsible for the risk and financial resources you use to trade crypto. The content on this website is primarily for informational purposes and does not constitute financial advice.

Are you ready to take your cryptocurrency trading to the next level?

Download our FREE Bybit guide!

ByBit Derivatives