Futures trading platform BitVC has announced it will no longer offer litecoin futures to its users, as it shifts its focus to bitcoin.
The platform, a subsidiary of Chinese exchange Huobi, said that the decision was taken “due to a lack of user demand”, and the “growing consensus that the world will only have one cryptocurrency value”.
BitVC’s announcement came via a Reddit post, which noted:
“We believe it is in the best interest of our users and the industry to focus 100% of our attention and energy on bitcoin.”
It confirmed that litecoin and chinese yuan spot trading and litecoin withdrawals would remain unaffected.
The news comes amid further changes to the platform. BitVC recently altered the way it handles forced liquidation risk management, introducing ‘automatic counterparty deleveraging’, which prevents negative balances and eliminates the need to socialise losses.