May 21, 2022

Breaking: Walmart Denies Litecoin Payments Rumours

2 min read

Litecoin taped a 35% and 28.6% earnings in the 1-hour and 24-hour charts, respectively, after major traditional media sites reported a phony LTC combination into Walmart e-commerce stores. According to the fake news release, the business was going to enable its “millions of shoppers” to take advantage of crypto payments with LTC.

The phony Litecoin combination was going to supposedly occur in October, as reported by Reuters, and others.

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The unofficial news release even priced estimate Doug McMillon, Walmart CEO, claiming that the enjoyment in Litecoin and cryptocurrencies is “real”. Hence, the fake quote stated that Walmart consolidated a partnership with the Litecoin Foundation poised to facilitate crypto payments with low charges and quick deals. The file included:

As a leading eCommerce store, we are devoted to bringing developments to the online shopping experience. By integrating Litecoin, we will enable consumers to experience a very smooth checkout experience with near instant deal confirmation, and near-zero charges despite where in the world they are.

LTC and the rest of the crypto market have negatively reacted to the fake news and its subsequent rejection by Walmart agents. At the time of composing, Bitcoin, Ethereum, and other major cryptocurrencies record medium losses in lower timeframes and heavier losses in the weekly chart.

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Litecoin records a 22% loss in the 1-hour chart and a 1.5% loss in the everyday chart. Ironically, LTC’s rate appears hardly affected, at the minute. The Litecoin Foundation, and Charlie Lee, LTC’s developer, are yet to discuss recent advancements.

Litecoin LTC LTCUSD
LTC dropped as news about the collaboration with Walmart is unmasked. Source: LTCUSDT Tradingview The Litecoin And Walmart Fake News Could Have Long-Term Consequences? In the crypto neighborhood, the news has triggered controversy. Some users discuss an alleged collaborated market manipulation that used mainstream media platforms and their low familiarity with Litecoin, and the crypto market.

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Caitlin Long, Founder, and CEO of Avanti, at first discussed the integration of LTC in Walmart was going to “attract lenders” attention. After it was confirmed that the report is phony, Long stated:

this captured a great deal of traditional press too. Whoever did this appears to have orchestrated it so the mainstream press would release their stories quickly after the embargo was raised at 9:30 amET. Implications & & a big fraud investigation inbound …

Additionally, regardless of confirmation that the report is fake, the news on Walmart accepting Litecoin is still reside on some major mainstream media sites.

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