Binance Includes XRP as Base Pair; XRP Application is a Sign of a Maturing Crypto Market

Binance Includes XRP as Base Pair; XRP Application is a Sign of a Maturing Crypto Market

Binance, the foremost cryptocurrency exchange by daily trading volume, announces a new base currency for trading pairs: Ripple’s XRP; Henri Arslanian, the PricewaterhouseCoopers FinTech & Crypto Leader for Asia, calls XRP a ‘game changer’ in executing cross-border payments

XRP advocates think the cryptocurrency should be a base pair option on the Binance platform. They have been stirring the platform’s CEO, Changpeng ‘CZ’ Zhao, to include the coin as one of its base currencies. Yesterday, 24 December, the exchange heralded the roll out of pairs TRX (TRON)/XRP and XZC (ZCoin)/XRP. As a base, XRP can be traded with other Binance supported cryptocurrencies.

The ALTS Trading Market

Please note that ALTS does not represent a new coin or token. It is the symbol for Binance’s new Combined Alts Trading Market.

Binance Team Announcement

With yesterday’s announcement, Binance compounds the ETH Trading Market giving it the moniker ‘ALTS’. The renaming came as a response to a crowded user interface. Binance is looking forward to listing more trading pairs in their ALTS Trading Market.

Ripple the Game Changer

Ripple’s XRP continues to rally. The coin superseded ETH as the second largest cryptocurrency with a market capitalization of over $15 billion.

More and more banks are contemplating supporting cryptocurrencies. With that said, Henri Arslanian of PricewaterhouseCoopers calls Ripple’s protocol a game changer. Ripple’s four-second settlement of international payments rivals that of SWIFT. The real-world application of XRP is evidence the market is on the verge of maturing.

Crypto Markets of 2019

Arslanian remarks next year will be invigorating to the cryptocurrency sector as institutional investors gain a foothold in the market. He says well-established businesses will tie up with crypto-related companies to increase their portfolios.

2019 will see security tokens and stablecoins enter center stage.

XRP

0.4543 USD
-3.73%

TRX

0.03416 USD
-6.12%

Related news

Bitcoin [BTC] and XRP Account for 85% of Exchange Holdings in Japan: Report

Nic Carter, a Partner Castle Island Ventures and co-founder of Coinmetrics.io, brought into light a report of cryptocurrency holdings of Japanese Exchanges. The report presents the monthly holdings data on Japanese crypto exchanges since December 2018. The number of reported users vs. active users has a discrepancy of about 1.1 million. He tweeted, update: apparently theres 3.1m accounts but only 1.96m of them are ‘active accounts’ = i.e. active in the last 30d or have a balance Hence, one can estimate from the survey that there are roughly about 2 million Japanese users on crypto exchanges (only about 1.5% of the total population). It includes only six cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, XRP, and Mona. Nic Carter’s Assessment of SRO Report on Japanese Exchanges (Source: Twitter) The Japanese Exchanges hold around $1.2 billion worth assets in Bitcoin [BTC]. BTC accounts for about 55% of the entire holdings. About one more billion dollars are held in altcoins. XRP lead the investment with about 68% dominance among altcoins and 30% in total. Nic Carter, tweets, “Japanese traders love them some XRP” But he also added, “Finna (gonna) learn Japanese so I can dunk on the Japanese XRP army” Cryptocurrency Exchange Holdings Monthly Report (Source) The monthly data of cryptocurrencies also reveal that the Japanese traders were sellers until July from the beginning of the year. The amount of Bitcoin and BCH holdings decreased during Q1 and Q2. Nevertheless, it picked up its pace in July. A considerable increase in Litecoin trading is witnessed during the Litecoin halving. Moreover, Ethereum, XRP, and Mona have been a continuous rise. The preliminary report suggests and there is a long way to go for Japan until mass crypto adoption. However, interestingly enough the defamed Japanese Exchange Mt. Gox lost about 650,000, from 850,000 Bitcoins after it’s hack in 2014. It was the largest crypto exchange of the time. It was a huge wake-up call for adopting personal custody in the country and elsewhere. The OTC (Over-the-Counter) market data is not included in the report as well. Hence, the actual number of users might be greater than the 1.5% of the population estimated on the cryptocurrency exchanges. Nevertheless, it still considerably low for mass adoption. Do you think that this will eliminate the Japanese rhetoric of mass cryptocurrency adoption? Please share your views with us.  The post Bitcoin [BTC] and XRP Account for 85% of Exchange Holdings in Japan: Report appeared first on Coingape.
CoinGape

Binance Denies Rumors It’s Acquiring Bankrupt Europe-Based Union Bank AG

Crypto exchange Binance said in an official announcement that the media reports claiming it’s buying bankrupt Liechtenstein-based Union Bank AG aren’t true. This is what Wei Zhou, Binance CFO, had to say about the news: “The reports that Binance is investing into Liechtenstein Union Bank or has applied with the Financial Market Authority to become […]
Bitcoin Exchange Guide

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.