This currency pair represents the exchange rate between Litecoin, a cryptocurrency, and the Euro, the official currency of the European Union. Litecoin was created in 2011 via an open-source decentralised cryptographic protocol, and is a leading and relatively early blockchain cryptocurrency. The EUR was first introduced in 1999. In addition to being the official currency for 19 of the 28 EU member countries, a group known as the eurozone or euro area, the Euro is also used by the formal institutions of the European Union and some European microstates that are not official EU members.
A few things to consider when trading LTC/EUR:
LTC normally trades similarly to Bitcoin in USD value and is also affected by how traders view crypto-trading in general. The Euro is the second-largest reserve currency in the world and the second most traded currency after the USD. It is influenced by the decisions of The European Central Bank and the European Commission. Those of you who expect the value of LTC to rise may open a long position. If you feel otherwise, open a short position. Follow LTC/EUR for more news and updates.