Litecoin settles lower at the open

Litecoin titled lower on Monday for the third session out of four, extending the downward path of the crypto market, and after plumbing November 2017 lows last Saturday on US regulatory concerns. 

Litecoin shed 0.30% to $59.113 as of 07:16 GMT, with a session-low at $58.657, and a high at $59.452. 

World Bank Announces First Ever Blockchain Bond 

The World Bank is partnering up with the Commonwealth Bank of Australia to set up the world's first blockchain bond, which was priced by the markets as clear international support for the technology that underpins cryptocurrencies. 

It's expected the bonds will carry 100 million Australian dollars in value, to be called bond-i, an acronym standing for Blockchain Offered New Debt Instrument, with an ethereum-based blockchain to be used in these bonds for its suitability. 

SEC Delays Crypto ETF Decision 

In less cheerful news for cryptocurrencies last week, the U.S. Securities and Exchange Commission (SEC) has delayed its final decision on requests to set up bitcoin exchange-traded funds to late September, in another development that upset crypto enthusiasts in the States. 

The SEC stated: "The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, ... designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change."

The Path of Litecoin 

Litecoin was first publicly offered in the first half of 2013 at only $3, marking record lows at below $1 in early 2015 before taking off on its long and spotted journey higher. 

The cryptocurrency pierced $100 for the first time on November 29, 2017, before scaling a record high at $370.78 on December 19, and plummeting back below $100 on June 12, moving on to $72.503 on June 29.