BitVC discontinues litecoin futures offering

BitVC, a futures-based trading platform, has recently announced that will discontinue to offer litecoin futures to its users, as it will now focus on bitcoin. It is subsidiary of the China-based exchange Huobi.

It 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".

The announcement was made in a Reddit post, which read: "We believe it is in the best interest of our users and the industry to focus 100% of our attention and energy on bitcoin."

However, it said that litecoin and chinese yuan spot trading and litecoin withdrawals would not be affected by this decision.

The platform recently transformed the way it manages forced liquidation risk management. It introduced 'automatic counterparty deleveraging', to prevent negative balances and remove the need to socialise losses.