CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$30,595.00
  • ethereum
    ETH$2,088.10
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Crypto Fund
    Home » Crypto News » Fake News of Walmart Adopting Litecoin Causes Crypto Markets to Pump and Dump Billions in Minutes

    Fake News of Walmart Adopting Litecoin Causes Crypto Markets to Pump and Dump Billions in Minutes

    Author: Anthonia Isichei

    Last Updated Sep 13, 2021 @ 15:17

    A fake story about Walmart adopting Litecoin (LTC) payments sent the crypto markets to the moon and back.

    The entire cryptocurrency market pumped when news that the US-based e-commerce giant Walmart, has inked a partnership deal with Litecoin to enable its customers to make payment with LTC broke out. Unfortunately, the news appeared to be fake, and the market dumped subsequently.

    • According to the fake press release on Monday (September 13, 2021), Walmart shoppers would have soon been able to start making payments with LTC across all eCommerce stores.
    • The story was quickly picked up by major news outlets, including Reuters and CNBC, which, ironically, had this in the body before editing it out:

    “It was not immediately clear if the news release was actually authentic.”

    • Interestingly enough, the sites that picked up the story failed to notice that the impostor credited the press release to Walmart-corpCom, which isn’t related to Walmart Inc. in any way.
    • This triggered a marketwide reaction, and most cryptocurrencies pumped tremendously in a matter of minutes. Bitcoin touched $47K, and Litecoin – the hero in the fake story touched $240.
    • In aggregate, the entire market added a whopping $80 billion in a matter of minutes.
    • Moments later, though, speculations ran rampant that the story is fake,, and it didn’t take long for LTC to plunge.
    • The price plunged to $175, and it currently trades around that level. This had the entire market lose about $100 billion in the minutes after.
    img1
    Chart by TradingView
    • It didn’t take long for CNBC and other media outlets to confirm that the story was fake.
    • A Walmart spokesperson confirmed that the press release wasn’t authentic. 
    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    Tags: Litecoin
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Anthonia Isichei
    More posts by this author

    Anthonia is a fintech writer who has been involved in the crypto space since 2017 covering developments across regulations, adoption, and several other aspects of the Industry. When not neck-deep in the crypto news cycle, Anthonia spends her free time globetrotting and playing video games.

  • bitcoin
    BTC$30,595.00
  • ethereum
    ETH$2,088.10
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Bittrex CBO: Why Bittrex Lost its Lead, Token Sales’ Critical Mistakes, and How to Get Listed (Interview)

    Bittrex CBO: Why Bittrex Lost its Lead, Token Sales’ Critical Mistakes, and How to Get Listed (Interview)

    What is Balancer Protocol? Everything You Need to Know

    What is Balancer Protocol? Everything You Need to Know

    Coinbase Wallet For Beginners: The Complete Guide

    Coinbase Wallet For Beginners: The Complete Guide

    Tether Has No Plans to Go Public: CTO Paolo Ardoino (Exclusive Interview)

    Tether Has No Plans to Go Public: CTO Paolo Ardoino (Exclusive Interview)

    NFTs Will Play a Critical Role and Translate into Transferable Credentials: HBAR’s Alex Russman (Interview)

    NFTs Will Play a Critical Role and Translate into Transferable Credentials: HBAR’s Alex Russman (Interview)

    What is Azuki? All You Need to Know About the NFT Collection

    What is Azuki? All You Need to Know About the NFT Collection

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!