Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

Litecoin - Walmart: Bubble pop

09/16/2021 | 06:42am EDT

Emotionalism, immediacy and FOMO (Fear Of Missing Out) are omnipresent. The world of crypto-currencies is no exception, evidenced by the recent spread of a fake news that retail behemoth Walmart would accept Litecoin cryptocurrency payments. This took over the cryptosphere in an instant and cause the Litecoin price to soar, before crashing down after Walmart popped the bubble.

The fake news issued by a fraudulent user account of GlobeNewsWire was quickly relayed by reputable media such as Bloomberg, Reuters and the famous American channel CNBC. All of them backed down after Walmart denied the fake news. In the space of a few minutes, the Litecoin price rose from $175 to $240, i.e. an increase of more than 35%, before returning to its pre-rise price, after Walmart definitively put an end to speculations.

This umpteenth piece of fake news in the cryptocurrency world illustrates how easy it is to spread misleading information on a global scale. Due to the volatility on digital assets, the spread of fake news represents a boon for hackers in the industry who profit from an artificial rise in a crypto. And this may only be the start...


Drawing : Amandine Victor

© MarketScreener.com 2021
Stocks mentioned in the article
ChangeLast1st jan.
LITECOIN (LTC/BTC) 6.76% 0.003128 Real-time Quote.-31.83%
LITECOIN (LTC/EUR) 9.06% 176.64 Real-time Quote.59.61%
LITECOIN (LTC/USD) 9.38% 206.22 Real-time Quote.51.99%
VIA S.A. -4.65% 7.8 End-of-day quote.-51.73%
WALMART INC. 0.91% 146 Delayed Quote.0.37%
Latest news
05:59pBAYER : Mexico's agriculture minister say Mexico will not limit GMO corn imports from U.S.
05:59pMARKAAZ : a world's first in FinTech, is joined by investor Sandy Watkins
05:59pDEERE MPANY : Judge limits strikers' conduct at Deere plant in Iowa
05:57pRenaissance Insurance offers shares at 120 roubles/piece in Moscow IPO
05:57pSHIFT4 PAYMENTS : Announces Date of Third Quarter 2021 Earnings Release and Conference Call
05:57pProtesters denounce Netflix over Chappelle transgender comments
05:56pTRISTATE : Q3 Earnings Snapshot
05:54pPETRÓLEO BRASILEIRO S A PETROBRAS : Production & Sales Report 3Q21
05:54pHuman decency prevails with announcement of forthcoming legislation, but more action urgently needed, says UFCW Canada union
05:51pGUARD THERAPEUTICS INTERNATIONAL : carries out, subject to approval from the Extraordinary General Meeting, a directed new issue of approximately SEK 54 million and a rights issue of approximately SEK 128 million
Latest news