The world’s largest cryptocurrency exchange, Binance, has recently added Ripple as a base trading pair and about to rename ETH market to ALTS market. By this, Crypto cousins such as ripple (XRP) and stellar (XLM) will have USD Coin pairs, in addition to their existing stable coin pairs.
As part of Binance’s expansion strategy to add more trading pairs and coins, the new trading pairs will be TRX/XRP (Tron) and XZC/XRP (Zcoin) on the Combined ALTS Trading Market. The so-called ALTS will replace the current ETH Trading Market.
The motive is the better user interface will supplement the new ALTS platform.
Commenting at the long-term token pair record coverage, Changpeng Z hao, CEO of Binance stated the following through his Twitter account:
“We will be adding a couple of trading pairs with XRP as the quote currency shortly. And rename ETH markets to ALTS market. Running out of space on the UI. We will prioritize adding more pairs for the projects that have donated to our charity at this (even though we never mentioned this during our fundraising efforts).”
Binance was clear on their warning about existing trades in tangential markets and reported,
“Please note: The existing USDC/BNB and USDC/BTC trading pairs will be removed and delisted at 2018/12/16 03:00 AM (UTC). All existing orders in each order book will also be cancelled at this time.”
In addition to the new trading pairs with XRP, Binance has expanded its portfolio by adding several stablecoins, pegged to fiat currencies. One example is the TrueUSD or TUSD.
According to CoinMarketCap, XRP is currently the second largest cryptocurrency by market cap, after Bitcoin. Binance is the leading cryptocurrency exchange by volume.
Let’s see how XRP adoption as a base pair will affect the markets and influence confidence for crypto traders in 2019.
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