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Updated: Walmart says Litecoin partnership is fake, cryptos tumble from the highs

Yohay Elam FXStreet

Walmart has announced a partnership with Litecoin that would enable customers at the giant retailer to pay with LTC. Walmart's press release sent Litecoin surging and other cryptocurrencies are benefiting as well.

Updated 14:05 GMT: Litecoin has NOT celebrated its partnership with Walmart, a sign that the news may have been mistaken. Cryptocurrencies are falling across the board, with Bitcoin tumbling back to the $44,500 level.

Updated 14:21 GMT: BTC/USD is now trading below the pre-announcement level, under $44,000:

Update 14:27 GMT: Walmart has officially announced that the news about a partnership with Litecoin is fake. Cryptocurrencies are stabilizing at around pre-news levels. It is essential to note that Reuters and other agencies reported the partnership.

Earlier reporting:

Bitcoin has leaped by over $2,000 from near $44,000 to over $46,000. Ethereum and Ada are also up from the lows.

In its statement, Walmart CEO Doug McMillon said:

We're very excited to be working together with the Litecoin Foundation, and further innovate our business. Starting October 1st, all eCommerce stores will have implemented a 'Pay with Litecoin Option-- more to come

More Litecoin Elliott Wave analysis: Resistance at 230-250 area

Walmart's stores are ubiquitous on the outskirts of America's big cities and also small towns. Allowing crypto payments means mainstream adoption has taken a substantial leap forward. However, doubts persist about the

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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