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Litecoin inches up amid sideways trading
Litecoin rose modestly on Wednesday after similarly modest losses yesterday, with the virtual currency trapped in sideways trading for the time being.
Litecoin's weakness comes as bitcoin and other cryptocurrencies waver as well due to ongoing limiting regulations from world governments.
News reports indicate that China is opening a new front against cryptocurrencies, targeting platforms that allow investors in China to trade cryptocurrencies in foreign exchanges.
Regulators plan to monitor Chinese bank accounts and online payment accounts for companies and suspected individuals to track and prevent all payments to foreign cryptocurrency exchanges.
Just recently, China was the largest cryptocurrency trading center in the world, before authorities banned the activities outright last week and continues to launch campaigns against the new business.
Litecoin rose on Wednesday to $219.99 from the opening of $215.34, with a session-high at $223.69, and a low at $215.20.
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